Social Security solvency
Expert’s Social Security Advice to Gen Zers: “You Have Time to Plan”
In a report posted on nbclosangeles.com, CNBC’s Cheyenne DeVon suggests that millennials and Gen Zers harbor concerns that Social Security faces oblivion and that “… 40% think they ‘won’t get a dime’ of Social Security benefits.” She points to repetitive…
Commissioner Weighs in on Social Security problems
In a post yesterday on newsweek.com, Social Security commissioner Martin O’Malley made a case fo prioritization of steps to ward off two major problems facing the program: the looming funding crisis and the evolving customer service crisis. Stressing that “…staffing…
“Fixing” Social Security–A quick recap of some of the ideas being advanced
Money.com’s Pete Grieve, in a post on nasdaq.com, provides a quick summary of five of the ideas currently circulating among various proposals to address Social Security’s looming insolvency problem. As Grieve points out, public sentiment for resolving the matter “sooner…
Challenging the “Earned Benefit” Definition of Social Security
Arguments and viewpoints on Social Security reform are increasing these days, and since we’re within a decade of the program’s financial flash point, that’s a good thing. Most who’ve been following this slow-moving train wreck are aware of the projected…
An Argument for Price Indexing as a Social Security Solution
Many proposals to address the Social Security solvency problem have been floated to Congress over the past few years, but they always seem to come back to the need to add revenue (tax increases) or reduce benefits as the only…
Exploring the Impact of the “No Tax on Social Security Benefits” Pledge
The 2024 Presidential Election cycle is in its closing weeks, and one issue that has received considerable attention is the question of taxation on Social Security benefits. From assessing payroll taxes on tip income to eliminating Social Security benefits from…
Social Security is the top issue for voters
CNBC poll finds Americans rank Social Security as one of the top issues when determining who they will vote for this November. In the recent Nationwide Retirement Institute survey findings, respondents expressed the same sentiment on how Social Security will…
Happy 89th birthday, Social Security
Happy 89th birthday, Social Security. On August 14, 1935, the Social Security Act established a system of old-age benefits for workers, unemployment insurance, and aid for dependent mothers and children, persons who are blind, and persons with disabilities. Social Security…
Increasing the wage base to save Social Security
Policy experts are debating the many options to resolve the issue of Social Security insolvency. Some strategies to fix Social Security include raising the full retirement age, changing the cost-of-living measure, and means-testing for benefits, along with the many other…
Your taxes and Social Security
The Social Security Trust Fund will be insolvent within the next ten years, causing benefits to be cut by 23 percent unless Congress reforms the program. The current presidential candidates both say they will not touch the program; however, the…