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$6,638 Annual Income Drop in 2033: Social Security Long Term Change – Check it Now!

(PHOTO: CNBC)

$6,638 Annual Income Drop in 2033

Social Security Struggles Stoke Debate on Fixes

A new report from The Motley Fool,  suggests Social Security might not have enough money in the future. This could lead to an annual income drop in the monthly payments retirees receive. Many older Americans depend on these payments to cover their expenses. But the program is facing problems because it’s not taking in as much money as it needs to pay everyone. Politicians are debating how to fix Social Security. Some want to tax wealthy people more and change how they calculate retirees’ payments. Others want to make people wait longer before they can get their full benefits.

READ ALSO: $5.5M Budget To Expand Successful Guaranteed Income Program For Low-Income Families In New Jersey – Are You Eligible?

$6,638 Annual Income Drop in 2033. (PHOTO: The Motley Fool)

Urgent Action Needed to Prevent Massive Annual Income Drop

If nothing changes, retired people could see a big annual income drop in their monthly payments. This means their yearly income could go down by thousands of dollars. It’s a serious concern for many, so politicians must stop arguing and find a solution soon.

READ ALSO: Arizona House Of Representatives Voted Favor Of House Bill 2375 – Guaranteed-Basic-Income Programs

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