Without action, Social Security faces a 23% benefits cut by 2032 to stay solvent.

The Social Security trust fund is on track to run out by 2032, potentially slashing benefits by 23% to stay afloat. Proposals to tackle this crisis include raising the retirement age, adjusting benefit formulas, and increasing payroll taxes. With Social Security reform a heated political issue, parties are divided on the best path to secure …

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Social Security is underfunded by $175 trillion. The “wealthy” will need to pay 7x US GDP in taxes to keep it solvent

Biden: "the wealthy should pay more to keep social security solvent" Social Security is underfunded by $175 trillion. The "wealthy" will need to pay 7x US GDP in taxes to keep it solvent — zerohedge (@zerohedge) June 28, 2024 According to the latest U.S. Treasury Department report, these programs are underfunded by a staggering $175 …

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