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6.5% Permanent Social Security Tax for Everyone

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6.5% permanent Social Security tax for everyone
In this video, we were discussing some new details out of Congress where they are now introducing and suggesting a 6.5% permanent Social Security tax which would implement across all American people to help replenish the Social Security trust fund and to prevent insolvency. This is a broad plan out of Congress which would implement a 6.5% increase to Social Security payroll taxes which the American people would pay on their earnings which would be automatically reduced out of their weekly or monthly paychecks. As a result of this, Congress is trying to prevent insolvency in the Social Security trust fund which we completely understand is going to be happening in roughly 10 years according to the estimates out of the CBO as well as the Social Security board of trustees. This is one suggesting as well as many others including raising the full retirement age and a variety of other suggestions out of Congress. This is a Social Security update, SSDI update, SSI update and the latest updates out of Congress and the Social Security administration.
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