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Social Security has two other funding sources: benefit taxes on some seniors and interest income earned on money in the program's trust funds. But both of those are in danger right now. The ...
Social Security benefits received a 2.5% cost-of-living adjustment (COLA) in 2025, but for many retirees, this is not enough to keep up with rising prices. Their monthly checks don't go as far as ...
For instance, CPI-W inflation increased 2.5% in the third quarter last year, so Social Security payments increased 2.5% this year. That is the smallest COLA since 2021.
Taxing income above $400,000 per year: Right now, only income up to $176,100 per year is subject to Social Security taxes. Taxing those at higher incomes would increase Social Security's cash flow ...
The Social Security Administration can't calculate the official 2025 COLA until the Labor Department publishes the Consumer Price Index data for September. That will happen on Thursday, Oct. 10 ...
The Social Security Administration (SSA) doesn't want that to happen, which is why automatic COLAs were introduced in 1975. Social Security cards. Image source: Getty Images.
Of course, it's easy to see why Social Security recipients aren't happy with a mere 2.5% raise. Next year's COLA is the smallest one to arrive in years. And given that many retirees are struggling ...
Millions of retirees depend on Social Security to make ends meet. Benefits are a major source of income for 60% of current retirees, according to a 2024 poll from Gallup, with an additional 28% of ...