“Spooky” Halloween Facts About Social Security
Right on the heels of Halloween, this Motley Fool article by Maurie Backman relates some spooky things about Social Security – that if you claim too early your benefit will be permanently cut by as much as 30%, and that Social Security won’t be enough for you to live on after you retire. The article also points out that Social Security’s current income isn’t enough to pay full benefits and the Trust Fund is being tapped to avoid a cut in benefits, but the Trust Fund could be depleted in 2034. Appropriately, the author suggests increasing your retirement savings to offset any future benefit cuts. However, the article leaves out an important point – Congress already knows how to fix Social Security’s finances; they’re simply not yet truly focused on doing so. But they almost certainly will be when the urgency of the situation demands they act. Click here to read the Motley Fool article by Maurie Backman. Then click here to read AMAC’s Social Security Guarantee Plus proposal to fix Social Security financial woes without increases taxes.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC‘s Social Security Guarantee, click here.
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