Capping Social Security Benefits for Rich Retirees
Tampa Bay News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
A new report suggests capping Social Security benefits for the wealthiest retirees to address the programs financial crisis. The proposal limits payments to $100,000 for couples and $50,000 for singles, saving between $100 billion and $190 billion over ten years. The idea targets those with millions in other assets, as high earners retiring later could soon hit six-figure annual benefits. Lawmakers must act before cuts hit in less than eight years to keep the safety net strong for millions who depend on it.
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