Millions of Future Social Security Recipients Could Face a Backdoor Benefit Cut
Today's workers need to be on alert.
Overview
If you've been hearing rumors that Social Security is on the verge of bankruptcy, here's some good news: The program is not at risk of going broke. Social Security actually can't go broke because it's funded with payroll taxes.
But in the coming years, that revenue stream is expected to shrink as older workers retire. And thanks to declining birth rates, the number of replacement workers entering the labor force won't suffice in allowing Social Security to keep up with its financial obligations.
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Details
Source
Originally published at www.fool.com.
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