Social Security: 4 Big Changes Ahead!

hindkunj.com

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Social Security may do something different in the years to come. Here are some that could be next -

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1. Taxes can be increased further for the rich.

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2. The age of full retirement can be increased.

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3. Payroll tax could be increased.

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4. Benefits may be reduced for high earners.

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When can such changes take effect?

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The most effective of the strategies is to tax income above $400,000 per year, but that plan would only close the shortfall of about 61%. It is likely that the coming years will see many changes in this type of program.

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Social Security: 4 Big Changes Ahead!

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