What Will Social Security Look Like in 20 Years If Congress Does Nothing?
From the Motley Fool website
When Social Security was conceived back in the mid-1930s, it was designed to be a supplemental income source for our nation’s low-income workers during retirement. But over the past 80-plus years, Social Security has evolved, possibly for the worse.
For more than 60% of our nation’s retired workers receiving benefits, it now represents a major source of their monthly income. In other words, without Social Security income, the poverty rate among seniors would probably soar. An analysis from the Center of Budget and Policy Priorities confirmed this point by estimating a greater than 40% poverty rate among seniors if Social Security income wasn’t available.
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