Tag: Social Security
If you don’t know this fact about Social Security, join the club. The percentage of earnings for all U.S. workers combined that is subject to the Social Security payroll tax is falling. Growing income inequality is the reason. Thirty-five years ago, Social Security taxes were levied on 90 percent of all workers’ earnings. By 2016,…
The brief’s key findings are: Social Security’s minimum benefit for retirees with very low career earnings does not prevent poverty and is withering away due to a design flaw. A broad consensus exists for enhancing this benefit to at least keep full-time, full-career workers out of poverty. Reform proposals, though, do differ over the extent…
