Changes in the law come from Congress. It doesn't matter what he wants, if a bill isn't passed by Congress then nothing will change. This is strictly a position statement that he believes SS needs to be reformed and it does. There are numerous suggestions on how to deal with the bad trajectory that SS is on. I would not count on any changes to SS benefits anytime soon. A removal of the maximum annual tax is a possibility. However, I expect nothing will be done until there SS becomes a crisis. Congress loves a good crisis - good drama.
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Originally Posted by Guest
He says he will put an income cap on Social Security benefits. He will phase it out for those making more than $80,000 and it will be eliminated for those making $200,000 or more. He also wants to raise the age of retirement.
What do you think? Will it fly?
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