Social Security Changes Proposed by President Trump Could Be Bad News for Retirees
Donald Trump during his recent presidential campaign promised on several occasions that he would not touch Social Security. But he also proposed eliminating federal income tax on benefits, overtime pay, and tips, all of which provide funding for the Social Security program. That is particularly consequential because the program is already running annual deficits, such […]
This Estimate of Social Security’s 2026 Cost-of-Living Adjustment (COLA) Was Just Revised. Here’s How Tariffs Could Impact Your Benefits.
Millions of American seniors rely on Social Security to make ends meet. Half of households with someone age 65 or older rely on the government program for the majority of their incomes, according to data reviewed by the Social Security Administration. That makes the annual cost-of-living adjustment, or COLA, an extremely important number for households […]
Social Security Benefit Cuts Are an Estimated 8 Years Away — Is Immigration to Blame?
For more than eight decades, Social Security has been the most important government program for retirees. Even though the average monthly benefit of $1,980.86 (as of February 2025) is relatively modest, this payout plays a key role in forging the financial foundation for many retired workers. In each of the last 23 years, national pollster […]
