The Surprising Truth About Social Security’s Future - AMAC & The Motley Fool

Worry you should, but despair? Not necessarily. So says Selena Maranjian as she analyzes Social Security’s financial woes. The program faces insolvency in a decade, and Maranjian nicely displays how the number of workers to beneficiaries has gone from over 40:1 in 1945 to less than 3:1 now. The author mentions some reforms such as payroll tax increases and raising the retirement age but is generally optimistic some congressional reform will pass before 2033, as the program is simply too valuable to so many to be left to automatic cuts over 20%. Full piece here.

The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized.  This can be achieved without tax increases by changing cost of living adjustments, increasing the retirement age, and modest adjustments to the highest income beneficiaries.  The AMAC plan also suggests eliminating taxation of benefits, or at least annually adjusting the amount taxed for inflation, and eliminating the reduction of benefits for those who 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 a great many congressional offices and their staffs over the past decade.  See it here.

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