Posted on Nov 9, 2023
New Social Security plan would increase taxes for these Americans
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The Social Security 2100 Act of 2023, a sweeping reform proposed earlier this year, seeks to address the program's financial challenges by reinstating taxes on those 1.8 percent of earners who rake in more than $400,000.
Social Security currently stands at a crossroads. Without action and intervention, the Social Security Board of Trustees projects that by 2035, the program will be able to fund only 75 percent of scheduled benefits.
Social Security currently stands at a crossroads. Without action and intervention, the Social Security Board of Trustees projects that by 2035, the program will be able to fund only 75 percent of scheduled benefits.
New Social Security plan would increase taxes for these Americans
Posted from newsweek.comPosted in these groups: 
Taxes
Taxes
Posted 1 y ago
Responses: 1
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PO1 William "Chip" Nagel While this is a step in the right direction, I expect them to raise the current 6.2% paid by the taxpayer and the matching contributions paid by the employer to cover the shortfall predicted. There is no way they can expect people to take a 25% cut in their retirement they were promised for paying into the system for forty or more years of work.
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