Gordon said there’s also a ton of uncertainty surrounding the Social Security program itself. Because of this, there will likely be reduced benefits in the future to keep the program solvent.
Couples who wait until the higher earning spouses max their benefits at age 70 face additional issues.
I can’t help but note that Newsweek didn’t even attempt to discuss the prospect of increasing payments to Social Security from upper income earners or requiring Congress to payback the “loans” they took from it to pay for military expenditures.
It’s only possible when the mega rich aren’t paying their fair share, or aren’t paying at all relative to everyone else.
This year the maximum income taxable for SS is 160k. This effectively means the top 10% aren’t paying into the system. End their special treatment and the system will be easily funded.
The income cap is theft from all the rest of us.
Precisely. Remove the cap and the problem goes away.