Social Security solvency
Protecting and Preserving Social Security Act
U.S. Representative Jill Tokuda (D-HI) reintroduced legislation to strengthen the Social Security Program by introducing the Protecting and Preserving Social Security Act, H.R. 4968. The bill aims to improve the Social Security program’s fairness, solvency, and benefits. If passed, the…
Ninety Years of Social Security
Social Security payments are a lifeline for millions of Americans. This year the program is 90 years old. Although many changes have happened over the years, at this point in time, Social Security desperately in need of reform. Beth Sterns…
Recent survey results shows Seniors have opinions on how to reform Social Security
With the Social Security trust fund currently on track to reach insolvency by the mid 2030’s, there are many ideas about how to reform Social Security to make it last for generations. A recent survey shows that older Americans have…
Social Security Insolvency
The most recent Social Security Trustees report states that the combined trust funds are expected to be depleted by 2034. Once that happens Social Security benefits for all recipients will be cut by approximately 20%. Maurie Backman for The Motley…
Don’t Obsess over Social Security!
At least one pundit who regularly watches what’s happening with the nation’s most important retirement program isn’t personally obsessing over Social Security’s looming financial issue. The issue at hand is a fact which has been reported by the Trustees of…
Should “means testing” exist for Social Security and Medicare?
In this somewhat unconventional opinion piece, the author opines that both the Social Security and Medicare programs are suffering financial difficulties, largely because many who receive benefits do not actually need them. The author, himself a fairly affluent businessman, contends…
Is the Social Security issue even worse than reported?
The latest (June) report from the Trustees of Social Security predicts that the SS Trust Funds will be fully depleted in 2033, unless Congress acts soon to reform the program. But, according to at least one retirement research outfit, the…
What Would a 23% Cut in Social Security Mean?
The Trustees of Social Security have warned Congress: There will be a 23% cut in everyone’s Social Security benefit in 2033, unless Congress reforms the program. Hopefully, Congress will act soon to prevent cuts from happening – but what if…
Some Sacrifice needed to save Social Security
As most Americans know from media articles on the topic, the Social Security program is forecasted to experience financial trouble soon. The Social Security Trust Funds, which now contain over $2.7 trillion in assets, will be depleted in 2033, according…
Demystifying the Federal Payroll Tax
Nearly all workers pay it, but very few understand it – the Federal Payroll Tax. With few exceptions,[1] everyone who works and earns pays the federal payroll tax from their earnings – that’s about 175 million American workers. The tax, first…