Search results
Results from the WOW.Com Content Network
[103] [104] Supporters of the bill state that "By making millionaires and billionaires pay the same rate of Social Security taxes as the rest of us, and by changing the method by which Social Security benefits are calculated, Sen. Harkin's bill would expand Social Security benefits by an average of $800 per recipient per year while also keeping ...
Under the 1983 amendments to Social Security, a previously enacted increase in the payroll tax rate was accelerated, additional employees were added to the system, the full-benefit retirement age was slowly increased, and up to one-half of the value of the Social Security benefit was made potentially taxable income. [67] [68]
John F. Kennedy. In 1961, JFK amended Social Security to allow workers to opt for early retirement at age 62 -- but only men. The amendments also increased the minimum monthly benefit and the ...
Some have proposed that the Social Security system be modified to provide for the option of individual accounts (in effect, to make the system, at least in part, more like a defined contribution pension plan). Specifically, on February 2, 2005, President George W. Bush made Social Security a prominent theme of his State of the Union Address. [189]
For example, if spouse A is the primary claimer and their monthly benefit at their full retirement age is $2,000, spouse B (the person claiming spousal benefits) is eligible to receive up to ...
As people grow older, their incomes decline and their healthcare expenses grow. Before Social Security, indigence was a part of old age for millions of elderly Americans, who depended on their...
President George W. Bush discussing Social Security in 2005. After winning re-election in 2004, Bush made the partial privatization of Social Security his top domestic priority. [55] He proposed restructuring the program so that citizens could invest some of the money they paid in payroll taxes, which fund the Social Security program. [56]
The file-and-suspend rule previously allowed an individual at full retirement age or older to apply for Social Security benefits and immediately suspend them so his spouse could collect spousal ...