This week the Social Security Trustees reported that our FICA contributions plus interest, net of all benefits paid out, have increased the Social Security Trust Fund by $32 billion. The trustees also forecast that Social Security benefits are completely sustainable…
For just over half of married couples and three-quarters of single people, Social Security makes up at least half of their retirement income. And it is the only income source for three out of 10 women age 65 and older.…
“We are not going to balance the budget on the backs of the elderly, the children, working families, the sick and the poor. We’re not going to do that.” – Senator Bernie Sanders Today, John Burbank, EOI executive director, and…
It is no surprise we’re facing a retirement crisis in the making. American workers aren’t saving for retirement – most often, because they simply can’t. Some states (California, most recently) have taken concrete and proactive steps to dealing with this issue. Others…
The kids are all right. And so are their grandparents. Why? Because Social Security is there — for all of us. And we can make that promise even better by making sure we all pay the same tax rate for…
Released today, the 2013 Social Security and Medicare Trustees’ report didn’t hold any big surprises. The Washington Post reports good news on the Medicare side, saying: Slower health care cost growth has improved Medicare’s financial outlook, extending the program’s trust…
This PBS NewsHour video from 2005 feels a bit dated, but the points are still largely true. The payroll tax cap is now $113,700, and just 84% of wages are subject to Social Security taxes. Social Security taxes are still not paid…
If we wanted to adopt a cautious policy measure that would eliminate Social Security’s shortfalls predicted 20 years down the road, we could eliminate the cap on earned income subject to Social Security taxes, currently set at $113,700. Such a measure would lead to increased payments by about the top 5.2 percent of wage earners.
The Heritage Foundation, the uber-conservative D.C. thinktank headed by former Senator and Tea Party darling Jim DeMint, is an unashamed opponent of Social Security. Past proposals from Heritage have included raising the retirement age, means-testing benefits, and privatizing the entire…
At a time when people are increasingly worried about retirement – both their own and the retirement of their parents and grandparents – a new poll shows the vast majority of Americans support higher taxes to increase Social Security benefits.…
