Social Security Is in Dire Straits, Thanks in Part to President Donald Trump, but Taxing the Rich Won't Fix the Problem
The popular answer isn't always the correct one.
Overview
For many of the nearly 55 million retired workers currently receiving a Social Security benefit, this income isn't a luxury. A quarter-century of annual surveys by Gallup shows that up to 90% of retired-worker beneficiaries rely on their monthly payout, in some capacity, to cover their expenses.
Given how important Social Security income is to aging workers, you'd think that strengthening this program would be a top priority for our elected officials, including President Donald Trump -- but this hasn't been the case.
Details
Social Security's financial outlook has steadily worsened over the last four decades, thanks in part to President Trump's policies. Worst of all, the most popular fix, taxing the rich, won't solve Social Security's most glaring problem.
Source
Originally published at www.fool.com.