Social Security Tax Suspension!
Hi Terry,
I’m a 65 year old single woman still working and will be for several more years. I like many Americans my age have been counting on Social Security to be a major portion of income for me in my retirement. With talk of a payroll tax holiday, and if Trump is elected again, possible elimination of the tax that funds social security. How will people like my self live. What can we do to save this benefit we have paid into over the course of our lives.
The history of the poor farms in America is something that is a forgotten reality from prior to passage of the social security act. It’s not a small issue to be brushed under the rug. My own grandfather had to work until age 82. Is that even reasonable.
Please help. You must realize that a significant portion of Americans don’t make enough to provide themselves a self funded pension in retirement. I’m very afraid of how lightly Trump and others are taking social security. Can they just take this away from us when we paid into to it??
Thank you. I would appreciate any information/ suggestions you have.
Terry Says
First of all — relax. And wait until your Full Retirement Age (67) to sign up for SS. It will be there for you.
All this discussion of a “payroll tax holiday” is just political BS. We always knew the SS “Trust Fund” was going to run out in about 15 years. But if the Fed/Treasury can “print” the money for stimulus checks and PPP, you can be sure they will “print” the money for Social Security!
It just amazes me that every senior doesn’t vote against the people who so casually decided on a Payroll Tax Holiday! I said it the minute it was announced and many times since.
