The Overlooked Way Coronavirus Relief Hurts Social Security
For Social Security beneficiaries, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is best known for the COVID-19 stimulus money it provided. But the CARES Act did more than just authorizing direct payments to individuals and families.
One of the provisions of the CARES Act enables employers (and self-employed workers) to defer paying the employer's portion of payroll taxes. While this part of the Act isn't getting a whole lot of attention, especially by Social Security recipients who've mostly left the workforce and payroll taxes behind, its effect on Social Security's finances shouldn't be overlooked.
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Source Fool.com
