Aug
18
2004
0
...by 2042 the payroll taxes collected will pay only 73 percent of scheduled benefits...
By David Luhman
Your estimated benefits are based on current law. Congress has made changes to the law in the past and can do so at any time. The law governing benefit amounts may change because, by 2042, the payroll taxes collected will be enough to pay only about 73 percent of scheduled benefits.
These were the words that immediately followed all the rosy projections telling me about how much I'll be making from Social Security when I retire.
This was all part of "Your Social Security Statement" which I recently received in the mail.
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