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The 1983 & 1993 Social Security Changes that Haunt People Today

Christy Bieber explains the simple reason so many seniors are losing much of their Social Security benefits. It’s due to specific laws that Congress passed to tax benefits in 1983 and again in 1993. When the 1983 rule was enacted, less than 10% of people receiving retirement benefits ended up paying taxes on them. The tax was meant to hit the wealthy, not the average everyday retiree living on a fixed income. But the problem was that the amount you could earn before you found yourself paying taxes was never indexed to inflation, and thus it ensnares more recipients each year. Read more here.

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