Your taxes and Social Security - Daily Press
The Social Security Trust Fund will be insolvent within the next ten years, causing benefits to be cut by 23 percent unless Congress reforms the program. The current presidential candidates both say they will not touch the program; however, the program is facing a huge financial mess without intervention. A current suggestion mentioned in the campaign speeches – is to eliminate the federal taxes seniors pay on their benefits, but can Social Security afford this move? Veronique de Rugy explains why Social Security cannot afford a tax cut. Read Ms. De Rugy’s article here…
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