Everyone has read the story that reassures today's retirees:“Your Social Security benefits aren't introuble.”
It claims that even after the Social Security trust funds run dry in 15-20years, the system will have enough money from pay-as-you-go taxcollections to fund about 80% of promised benefits.
With a few “tweaks,” such as a 2% increase in payroll taxes anda one-year delay in normal retirement age, everything will be finefor decades to come. Or so the story goes.
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