Yes
I do.
No
I don’t.
Social Security is once again becoming one of the biggest financial debates in Washington as lawmakers confront the program’s long-term funding problems.
Current projections have renewed concerns that, without congressional action, Social Security could eventually reach the point where incoming revenue would no longer be sufficient to pay all scheduled benefits. That has prompted lawmakers from both parties to discuss potential solutions, including changes to the taxes used to finance the program.
Some proposals would require higher-income Americans to pay Social Security taxes on more of their earnings. Other lawmakers have discussed different approaches designed to strengthen the program without reducing monthly benefits.
Supporters of increasing taxes argue that Americans who have paid into Social Security throughout their working lives deserve confidence that the benefits they were promised will remain available. Critics counter that raising taxes could place additional pressure on workers, employers, and the economy and argue that Congress should pursue alternatives.
With millions of retirees depending on Social Security and millions more approaching retirement, the decisions made in Washington could have consequences for generations.