How Would You Fix Social Security? This Group Wants to Know.
Millions of seniors today rely on Social Security to cover their expenses in retirement. And for many years, Social Security has steadily paid benefits to those who have been eligible for them.
But in the coming years, those benefits may be in jeopardy, to some degree. This isn't to say that Social Security is going away. Rather, the program may be forced to cut benefits universally in roughly 10 years once its trust funds run out of money.
Social Security gets the bulk of its funding from payroll taxes -- the same taxes many of us grumble about paying. But in the coming years, baby boomers will be retiring in droves, and not enough workers will be entering the labor force to replace them.
Source Fool.com
