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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDonald Trump's "One Big, Beautiful Bill" Will Speed Up the Timeline to Social Security Benefit Cuts, New Analysis Finds
For most aging Americans, Social Security income isn't a luxury -- it's a necessary payout that ensures a stable financial foundation.
For 24 years, Gallup has been surveying retirees to gauge their reliance on the income they receive from Social Security. Every year, 80% to 90% of respondents have noted their payout represents a "major" or "minor" income source. In other words, it's a necessity, in some capacity, to cover their expenses.
Ideally, elected lawmakers -- which include President Donald Trump -- should be doing everything in their power to ensure the long-term financial stability of Social Security. But based on the latest update from the Social Security Board of Trustees, that's not happening.
Worse yet, President Trump's flagship tax and spending law, the "big, beautiful bill," is expected to speed up the timeline to across-the-board Social Security benefit cuts, according to a new analysis.
https://www.msn.com/en-us/money/retirement/president-donald-trump-s-one-big-beautiful-bill-will-speed-up-the-timeline-to-social-security-benefit-cuts-new-analysis-finds/ar-AA1KFlsr
SheltieLover
(81,729 posts)Eliot Rosewater
(34,296 posts)Probably academic since Im pretty sure theyre just gonna steal it all anyway very very soon.
Hey but Hillary gave a speech to rich people once so you know no reason to vote Trump cant be all that bad.
markodochartaigh
(5,545 posts)I mean we have peace, right? There's no more protests on the news every day.
Eliot Rosewater
(34,296 posts)markodochartaigh
(5,545 posts)"Ongoing demographic changes are primarily to blame for Social Security's financial struggles".
No, the primary reason that Social Security is facing "financial struggles" is the fact that there is a cap on which the wealthy pay into it. A doctor making $300,000 a year pays the same amount as a techbro making $5,000,000 a year. And they both pay the same as someone making $176,000 a year.
GoodRaisin
(11,062 posts)and we are running out of time. Krasnov is fine with letting the clock run, he even sped it up a little.
dalton99a
(95,320 posts)Delarage
(2,615 posts)And Al Gore saying it should go into a lock box to ensure its solvency? Along with Clinton and Gore challenging the automobile industry to come up with hybrid vehicles.... Ford and GM obliged with some nice diesel hybrids that got close to 70 MPG. So we got Bush v. Gore, the Florida debacle, and tax cuts for billionaires instead.
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