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There’s Debate on Whether Social Security Benefits the Wealthy More
Maurie Backman hits a touchy subject here. We know the U.S. tax code has favorable deductions and treatment of income in many aspects for wealthier individuals. But what about Social Security? Well, naturally the more one earns, the higher benefits one will receive, as the calculation is based on one’s highest 35 years of work. Higher wages could also lead to higher spousal benefits. Finally, those with high earnings might be in a better position to delay Social Security claims and score boosted benefits as a result. Full piece here.