Social Security

Fiscal Cliff Deal – 77 Percent Of All Americans Set To Pay More Taxes

by

Fiscal Cliff Deal

The President has claimed that the Tuesday night fiscal cliff deal will reduce middle class taxes in America. However, taxes for most Americans will increase in 2013. The tax relief that has been built into the package will add nearly $4 trillion per year for the next 10 years to the existing $16 trillion debt. The fiscal cliff deal passed by the Senate and the Congress will not stop the Social Security payroll tax cut from expiring. This means that more than 75 percent of American households will face a higher federal tax liability in 2013.

Tax … Read the rest

Social Security Benefits And The Payroll Tax Cut

by

Social Security is a government benefit countless people depend on.  This is true for those who have already retired, are approaching retirement, or are just starting out in the work force.  Those who are fully retired depend on Social Security payments to help sustain their livelihood.  Unfortunately, future generations may not have this luxury.

The price of living continues to rise as incomes and Social Security benefits remains relatively the same.  This means the general population will need to find other ways of supplementing their bank accounts.  In the future, the framework of Social Security may resemble a combination of … Read the rest