Social Security’s Looming Shortfall Pushes Some Republicans Toward an Unlikely Solution: Higher Taxes
For decades, raising taxes has been close to political heresy for many Republicans. But the approaching financial crisis facing Social Security is beginning to challenge that orthodoxy, with some Republican lawmakers signaling that additional tax revenue may need to be part of a bipartisan agreement to prevent major benefit reductions. The urgency comes from Social […]
$140 average raise for Social Security recipients in the United States
The Social Security Administration in the United States announced that there will be a cost of living adjustment of 8.7% for the year 2023. This figure represents an average increase of 140 dollars per month, as of January 2023 and that can be successively increased in the coming years. As explained, the annual adjustment of […]
