Social Security solvency
New Debate on Social Security’s Trust Funds. How exactly is Social Security financed?
Lorie Konish for CNBC points out that new leadership in Washington will be taking on the dilemma of how to fix the program. Senator Mike Lee of Utah renewed questions on how the program is funded. Lee criticized the way…
Detailed Explanation of the Social Security “Fairness” Act
Andrew G Biggs gives insight into why public employees who don’t participate in Social Security are not being cheated when their Social Security benefits are offset because of their pensions. When you understand how the Social Security formula works, you…
Changes to Tax Policy can Help Shore Up Social Security
This article by Andrew Leahey for Drexel university School of Law discusses ways to make up for the Social Security shortfall. Per his prospective raising taxes on upper income earners and including investment income to expand the Social Security tax…
Delay of Social Security Reform will Cost More in the End
By Brian Anderson on December 2, 2024for 401K Specialist The Peterson Foundation projects waiting until the Social Security Trust Fund is depleted would mean payroll tax increases of benefit cuts about 1/5th higher than if Congress took care of this…
Worried about Social Security? So are most other Americans
In a recent survey, over 70% of Americans worry about the future of this critically important national retirement program. After all, most current beneficiaries say that Social Security is a “major” part of their retirement income – one that would…
Concerns Over Social Security’s Future Continue to Grow
Planning for retirement can be complex, with many competing issues compounding the process. One of those issues—the program’s uncertain financial picture—became apparent in the results of a new Bankrate survey summarized in a post on their website today by Lane…
Analyzing President-elect Trump’s Proposed Elimination of Income Tax on Social Security
The days, weeks, and months following Donald Trump’s return to the White House will be eventful, to be sure. And one of the key policy areas seniors will be following closely is candidate Trump’s promise to remove Social Security benefits…
While the Election Smoke is Clearing, Some Thoughts on Social Security’s Future
The race is over at this point, except for resolution of a few House seats, so attention can now be focused on what might happen on Social Security reform. As most folks know, we’re about eight years away from the…
Social Security Reform: A Pragmatic Assessment of Where We Are
Social Security has taken somewhat of a backseat in the 2024 presidential election cycle, with the need for action to correct the long-term problem funding problem overshadowed by the tepid pledges to “protect” the program. This absence of serious attention…
Limits of Social Security
Social Security can be a major or minor part of a retirement income. With all the questions surrounding Social Security’s ability to continue paying benefits you may want to consider other options also. Selena Marajian for The Motley Fool explains…