Should the earnings cap for paying Social Security taxes be raised? The author says it has a downside and offers an analysis with examples.
The average worker in America has 6.2% in Social Security taxes withheld from each of his or her paychecks. Could investing this money on your own offer better returns in retirement?
The author says that it appears that President Reagan put Social Security on a premature path to insolvency through a payroll tax hike in the early 1980s and offers an analysis of why he believes this happened.
Social Security has announced that it is expanding the services available with a my Social Security account, a personalized online account that people can use beginning in their working years and continuing throughout the time they receive Social Security benefits.
If you’re curious about which states offer the most tax friendly environments for retirees, check out the interactive retiree tax map on the Kiplinger web site.
The Social Security Administration has announced 35 additional Compassionate Allowances conditions, bringing the total number of conditions in the expedited disability process to 200.
The author says that the purpose of the 1983 payroll tax hike was to generate Social Security surpluses for the next 30 years, but instead of following that plan, the government spent the money out of the general fund, thus using up the revenues on other government programs.
The author says that the Social Security Trust fund is empty and has been for the past 30 years, but the public has been deliberately mislead to believe that the funds are still in place.
The author says that the debate over funding Social Security is focused on the wrong problem and that the real problem is that the government has spent all of the trust fund holdings, starving the program of all its surplus monies.
The author juxtaposes some common federal benefits programs.