This 1 Flaw in Social Security Means More Retirees Pay Taxes Every Year

This 1 Flaw in Social Security Means More Retirees Pay Taxes Every Year

Your payroll taxes support the program and you receive benefits as a retiree based on what you earned over your career. The income thresholds haven't been raised since, and probably won't be anytime soon. When lawmakers impose a tax at a certain income level but don't index it to inflation, this is a stealth way of raising taxes without having to take an uncomfortable vote to collect revenue from more retirees.