New tax cuts could have huge implications for Social Security
Here’s what workers and retirees need to know about Trump’s proposed tax cuts.
Social Safety funds had been helping seniors supplement their retirement profits because the Social Safety Administration used to be created in 1935. With the decline of employer pension plans, workers devour change into an increasing number of liable for constructing their very devour retirement savings nest eggs.
Most seniors depend on fixed, month-to-month funds to win by in retirement, and the skyrocketing tag of living is making the need for a solid safety procure for retirees more necessary than ever.
Though declining initiating rates and the aging Child Boomer population reaching retirement has threatened the kind forward for Social Safety, the proposed elimination of taxes on Social Safety funds would eradicate a key component needed to help fund the program for future generations.
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