Comprehensive and meticulously documented facts about Social Security. Learn about Social Security's taxes, benefits, financial status, reform options, and more. For example: • Taxable Maximum • Causes of Fiscal Problems • Old-Age Benefits • “Looting the Trust Fund” • Personal Ownersh...
Currently, the Social Security Board of Trustees projects program cost to rise by 2035 so that taxes will be enough to pay for only 75 percent of scheduled benefits. This increase in cost results from population aging, not because we are living longer, but because birth rates dropped from thr...
Let’s go to Brian Riedl’s chart book, where we learn that Social Security revenues are stable, but the spending burden for the program is rapidly rising. For what it is worth, there are only three ways of dealing with this problem. Massive tax increases, such as increasing the payroll...
The question that has to come to mind is,“If the Trustees missed the first critical milestone on this slippery slope, how much faith should we put into their “Drop Dead Date” where SS runs out of money?” IMHO one should put little faith in that 2036 estimate. It could be a decade...
You must consider yourlife goalswhen taking Social Security benefits. If you expect a shorter life expectancy, take early withdrawals. Delaying Social Security can result in larger benefits if you expect to live longer. You can use theSSA's life expectancy calculatorto estimate your life expectancy...
Enter your age and current income and the site will give you a ballpark monthly benefits estimate for early, regular or delayed retirement as well as estimated disability and survivor benefits. The Social Security Webhttp://www.ssa.gov/gives all kinds of worthwhile information including: ...
The theory of "economic insecurity" proposed by Inglehart is still applicable, but "economic security" is related to the level of social prosperity and factors such as the overall economic trend and social inequality in society. In terms of values in the private sphere, due to significant ...
For the lower earner, if either partner is in poor health, it's better to file for Social Security earlier. The lower earner is thinking about how long it will be before one spouse has died. The higher earner needs to estimate how long it will be before both spouses will die. ...
Social Welfare Expenditures is not included in this chart, because complete historical data for this measure is unavailable. [15] Calculated with data from: a) Report: “CBO Estimate for H.R. 6074, the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020, as Posted on March...
it is nigh impossible to accurately estimate the breakdown between payroll taxes and taxes on benefits using the Treasury’s Monthly Treasury Statement, I’m using the Fiscal Year numbers (which run from October 1 of the prior year to September 30 of the current year) from Social Security. In...