Social Security solvency
About Reforming Social Security
As we roll into this presidential election year, campaign rhetoric is already heightening, especially about Social Security. Most candidates pledge “not to touch” Social Security, while simultaneously suggesting that cutting the program is high on their opponent’s agenda. President Biden…
In a Sea of Red Ink, should Congress Seek Fiscal Reform?
With the national debt now exceeding $33 Trillion, and Social Security and Medicare facing insolvency in less than a decade, it’s hard for the average American to understand why anyone would oppose Congress seeking ways to restore fiscal stability. Then…
Why do the Rich get a Bigger Social Security Payment?
“The rich get richer” is somewhat of a common lament by those not enjoying financial freedom, which likely includes most of those collecting Social Security benefits. Indeed, a majority of Social Security beneficiaries say they rely on their SS benefit…
Election 2024 – The Knives are Coming Out
If you’ve checked in on the various debates and Town Halls starring the 2024 presidential challengers, you’ve seen the growing intensity relating to positions on Social Security reform. It’s pretty clear that there are differences of opinion on what needs…
Candidate Haley Lays Out Four Specific Fixes for Social Security and Medicare
In a FoxNews Channel/YouTube video circulating today on the internet, 2024 Republican Presidential candidate Nikki Hakey chided her opponents for taking a “hands off” stance on the need for Social Security and Medicare reform. She outlined her plan to address…
Social Security’s Looming Insolvency–Know the Facts
Most folks tuned into current economic affairs are well aware of the projections that Social Security’s trust fund reserves, valued at nearly 3 trillion dollars just a few years ago, will be depleted by 2033 (or 2032, depending on the…
Is a Social Security Perpetuity Tax Coming?
Ted Jenkin, CEO and co-founder of oXYGen Financial, writes for Fox Business that a Social Security tax on all of your income is a real possibility under a second Biden term. He notes Biden has called for putting the combined…
Spotlight on Social Security Tax– 200+ People Have Already Paid Theirs in 2024
Teresa Ghilarducci, a former economics professor, highlights the Social Security wage cap in this Forbes piece. Only the first $168,600 in wages in 2024 are subject to the combined employee and employer 12.4% tax, and many of the uber rich…
An Argument for Better Investment of Social Security Funds
In a post yesterday on marningstar.com, finance writer Brent Arends takes exception to how Social Security’s trust fund reserves have been invested over the years, suggesting that deploying the balance in selected U.S. stocks could have produced a return far…
Social Security’s Rumored Demise
“Social Security benefits will end in about a decade.” This is an ongoing, frequently reported rumor that indicates misunderstanding about how Social Security is financed. The reality is that Social Security’s trust fund reserves have, since 2021, been used to…