Americans need thoughtful proposals for Social Security reform. Absent changes to the program, Social Security will be insolvent in a decade and benefits will be cut by 23 percent for all Social Security recipients. With $20.4 trillion in unfunded obligations the equivalent of $157,000 per household maintaining the program without structural changes would be incredibly costly.
DEVASTATING FIRE IN WOODSIDE; 9 INJURED: A massive fire on 59th Street in Woodside on Tuesday, March 7 resulted in 200-plus-person response, 9 injured firefighters and 18 displaced residents. Senate Deputy Leader Michael Gianaris issued this statement following a fire that injured nine FDNY firefighters and displaced eighteen area residents: “Last night’s devastating fire caused
Is your salary less than $160,200? If so, you’re among the 94% of American workers who pay into Social Security all year long. Thanks to a loophole that exclusively benefits the super-rich, income above that amount simply isn’t taxed for Social Security.
Some experts believe Social Security benefits have fallen behind inflation, but one change to the annual cost-of-living adjustment (COLA) calculation could help.