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The Party who modifies Social Security will Reap Political Rewards - The Brunswick News
Eventually either benefits will be cut about 20% across the board or changes will be made. There are many different scenarios, some of which will push the burden (especially in the form of taxes) onto future generations. Read Veronique De Rugy’s take on this topic in this article posted on June 7, 2024 for The Brunswick News.
As an example of the leading thoughts on reforming Social Security, the Association of Mature American Citizens (AMAC, Inc.) believes Social Security must be preserved and modernized. This can be achieved without tax increases by slight modifications to cost of living adjustments and payments to high income beneficiaries plus gradually increasing the full (but not early) retirement age. AMAC Action, AMAC’s advocacy arm, supports raising the thresholds at which benefits are taxed and then indexing for inflation, and calls for eliminating the reduction in people’s benefits for those choosing to work before full retirement age. AMAC is resolute in its mission that Social Security be preserved for current and successive generations and has gotten the attention of lawmakers in D.C., meeting with many congressional offices and staff over the past decade.
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