Social Security funds face a 2033 shortfall, prompting discussions on adjusting retirement age, taxation, and payroll tax cap.
Social Security funds are projected to fall short by 2033, prompting discussions on potential solutions. Emerson Sprick, an economist at the Bipartisan Policy Center, and NPR's Ayesha Rascoe explore options such as adjusting retirement age, improving taxation of benefits for higher-income earners, and increasing the payroll tax cap. Policymakers must balance preserving current benefits while addressing financial shortfalls.
May 12, 2024
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