Most working people pay Social Security taxes on every dollar earned and many pay more in Social Security taxes than in federal income taxes. Yet nearly one out of five workers — some 18% — pay no Social Security taxes ...
Category: Issues
Social Security COLAs Need to Double and Medicare Part B Increases Cut in Half, to Ensure Benefit Adequacy
(Washington, DC) – Social Security cost-of-living adjustments (COLA) would need to double their rate of growth and Medicare Part B premium increases would need to slow by half their historic rate to provide greater Socia ...
How A Provision of Tax Reform Increases Chances of Lower COLAs
By Mary Johnson, editor The main source of funding for Social Security comes from the payroll taxes that workers pay into the program. But there are two other sources of revenues: taxes that retirees pay on their Soc ...
Chained CPI Would Cut Average Social Security Benefits
(Washington, DC) – Higher taxes — lower benefits — more complexity. A new, more slowly growing consumer price index (CPI), known as the chained CPI, promises the worst of all worlds for tens of millions retirees, disabl ...
Taxes Take A Growing Percentage of Social Security Benefits
(Washington, DC) – About 56 percent of all Social Security households pay taxes on a portion of their Social Security benefits, according to a national survey by The Senior Citizens League. “Recently enacted changes in ...
Q & A: Will my Social Security benefits be taxable?
Q: I retired last year, but my spouse continues to work. This will be our first tax season with Social Security benefit income. Will my Social Security benefits be taxable? A: If you’re receiving Social Security in ...
Why We Need A Better COLA
Social Security recipients will get 2% cost-of-living (COLA) adjustment effective January 2018. But despite it being the largest increase in five years, the news is being met with frustration from millions of retiree ho ...
Cuts To Social Security, Medicare, and Medicaid Not Supported By Older Voters
(Washington, DC) – A survey of older voters indicates that Congressional plans to cut Social Security, Medicare and Medicaid in order to shrink the deficit would be politically explosive in an election year, warns The Se ...
Don’t Let The High Cost Of Prescription Drugs Cost You Your Health
(Washington, DC) – For older Americans, the high cost of prescription drugs is a leading deterrent to filling prescriptions or taking required medications as directed, warns The Senior Citizens League. “People with Medi ...
Medicare Part B Increase Will Consume Retirees’ Entire COLA
(Washington, DC) – Despite receiving the largest Social Security cost of living adjustment (COLA) in five years, the majority of retired and disabled beneficiaries will not see any increase in their net Social Security b ...
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