A look at the leading players’ policies toward Social Security, which is scheduled for a 23% cut in about a decade.
Because I was born in 1972 — and thus am part of Generation X — I become eligible for early Social Security in 2034. So of course that’s the exact year in which Social Security payments will automatically be cut about 23% because of a shortfall of funds unless changes are enacted. boomers b) millennials c) or Gen Z ) Anyway, the boomers in D.C. have finally started to respond to the known dire consequences for those of us who will retire just one decade from now.
Social Security is a boring, critical issue presidential candidates should be discussing I think it’s worth noting that leaders can be right or wrong on the politics of the situation and can be right or wrong on the policy of it at the same time. Social Security is an unusually potent topic for politics and policy. It’s the classic political “third rail” that many politicians fear to touch for risk of being fatally zapped.
Remain calm. Social Security’s fate is not tied to its trust fund The Biden administration’s main proposal for shoring up Social Security, announced March 11, is to raise payroll taxes on higher-income workers. The administration pledges to make no cuts in benefits, saying it will neither reduce amounts paid as benefits nor delay the age of qualifying for benefits. The current upper limit for paying into Social Security taxes in 2024 is $168,600.
Taylor: Gen X Republican Study Committee White House Congress Republican Biden White House Medicare Rice Boomers Texans Joe Biden Michael Taylor Paul Ryan Democrats Washington D.C. United States Donald Trump Social Security Generation X Primary Insurance Amount Gen Z Fiscal Sanity To Save America [email protected] | Twitter.Com/Mi No Hill For A Climber The Financial Rules For New College Graduates
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