Payroll Taxes Need to Increase This Much to Fix Social Security
Social Security is an absolute monolith of a program. Last year, the program generated $957 billion in revenue and wound up spending $922 billion, a vast majority of which went to the more than 25 million retired workers who currently receive a monthly check from the program.
However, this vital program, which is currently cash-flow positive, is also facing some major issues. And, according to the latest report from the Social Security Board of Trustees, major changes could be just around the corner.
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Source: Fool.com
