Social Security’s Future Benefits
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As a baby boomer (born 1952) I feel my fears about Social Security are warranted. My factory-working father’s deductions routinely stopped in September because he had reached the maximum income, and his percentage of deduction was nearly half of mine. As a result, he now receives full benefits.
Today, to match my father, I’d have to earn over $80,000 annually (and the maximum keeps increasing). When I retire, the government will tell me my benefit is less than maximum because my contribution was less than maximum. And that “trust fund” is being used to reduce the national deficit. I seriously doubt it’ll be there when it’s my time. The crisis is real.
BILL DeBUSSEY
San Diego
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