It's not you, it's me. 💔 Actually, it's a messy love affair with payroll taxes, senior income, and the fate of Social Security! 💰
Lawmakers are proposing a new bill called the "You Earned It, You Keep It" act. If it goes through, the bill will reduce taxes for those on social security. It sounds like a nice perk for seniors, who will save some cash. But how does it affect the average Joe's paycheck? Also, is this just another way to try and get attention for a bill that won’t ever *actually* go anywhere? (There’s already three other SSA reform bills sitting in Congress as we speak, so…)
Here’s Five Fast Facts about *potentially* ending Social Security taxes:
🔥Bottom line: Social security funds are being drained faster than a man’s wallet on the dating scene. Will an increase in the tax cap help? Will seniors get a little breathing room to spend more money on bingo and brunch? Will Millennials even get to experience Social Security after all? We'll keep our eyes on this one!
So what do you think? And we’re not asking you in the “does this dress make me look fat” way, but in the “Even if we disagree, we won’t make you sleep on the couch” way.
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