Without those taxes, Social Security would be forced to cut benefits a year earlier than currently forecast, experts say. What's clear, by contrast, is that to avoid cutting benefits in 2033 Congress will have to take action to bolster Social Security. Some lawmakers have proposed liftin...
The timeline to replenish Social Security is being extended. The federal retirement program said Monday it may not need to cut benefits until 2035, one year later than previously forecast, because of stronger performance by the U.S. The new projection, from the Social Security Board of Trustees...
Panel Eyes Social Security Benefit Cuts, Higher TaxesThere are three basic ways to save the Social Security. We cancut benefits, raise revenue or do...By PowellRobert
As president, he continued to insist that he would not touch Social Security benefits even as he took actions that indicated he might. Once he claimed on Twitter that his fiscal 2021 budget would not do that just hours before it was released, showing that it did, in fact, includeproposed...
Social SecurityThis fact sheet explains how the children and grandchildren of today's retirees would bear the brunt of the benefit cuts currently being proposed by some policymakers and commentators. It outlines how raising the retirement age means lowering benefits at any age they are claimed, ...
Social Security cuts could be coming soon — here's who will be affected Social Security funds face a long-term financial crunch that could mean some benefits get cut sooner for retirees, according to a recent government report. Politics March 7, 2023 Biden proposes tax hike on Americans makin...
Social Security will no longer be able to pay full benefits in 2033, a year earlier than previously expected, according to a report released Friday.
Lawmakers often report hearing from constituents that they have difficulty getting through to Social Security, obtaining replacement cards or verifying their benefits, he said. "These members of Congress or Senate complain to Social Security, but they won't provide enough funding to actually...
The last few years have been record-breaking for thecost-of-living adjustment(COLA), an annual boost in benefits designed to help Social Security keep pace with inflation. The 8.7% COLA in 2023 was the highest in four decades, and the year prior also saw a massive 5.9% rai...
While there are a number of proposals to address the imbalances, there really are only two possible out comes. Either the 60-70% of the baby boomer population who are highly dependent of SS are going to have the benefits cuts, or younger workers are going to have to dig into their pocke...