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.
Correct me if I’m wrong but you don’t need to raise SS rates at all, just lift the cap. Simple. 168k is the max for 2024 and that seems absolutely silly nowadays.
It’s hilarious that something that was designed to be the everyman’s social security net operates on a regressive tax.