Course Hero Logo
Chapter 9, Section 9.1, Policy Watch, Exercise 01
Page 242

Social Security: How Can We Save It?

 

What are the options for saving Social Security?

Explanation

Read more on:

  1. https://www.investopedia.com/articles/personal-finance/120415/how-secure-social-security.asp
  2. https://www.forbes.com/sites/davidrae/2020/08/11/ways-to-save-social-security-now/?sh=1ff4a60d6f15

 

Answer

Ways to help save Social Security

  1. Raise the payroll tax rate.
  2. Increase the ceiling on which Social Security taxes must be paid. 
  3. Change the way the annual cost-of-living adjustments are evaluated. 
  4. Raise the full retirement age. 
  5. Invest Social Security trust funds in the stock market.


 

 

Did you like this example?
Subscribe for full access
Page 242