Trump Will Pay This Much Into Social Security in 2020
Earlier this month, on Jan. 1, Social Security celebrated the 80th anniversary of the first retired worker benefit being paid out. The rest, you could say, is history, with Social Security becoming one of the most relied-upon social programs for the elderly over the next eight decades.
According to figures from the Social Security Administration, 62% of current retirees lean on the program for at least half of their monthly income, with 34% reliant on Social Security for virtually all of their income. Without this guaranteed monthly stipend, it's estimated that the elderly poverty rate would soar to north of 40%, from a current poverty rate of 9%.
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Source Fool.com
