This Proposal Could Shrink Social Security's Shortfall. But Is it Fair?
Social Security provides benefits to seniors across a wide range of income levels. In fact, it's possible to have a $3 million income in retirement but still collect Social Security.
But some lawmakers may be looking to change that by imposing a system of means testing for Social Security purposes. Here's how that would work -- and the impact it might have.
Social Security is facing a serious financial shortfall in the not-so-distant future. Recently, its Trustees projected that the program's trust funds will be out of money by 2035. Once that happens, benefit cuts will be a distinct possibility unless lawmakers manage to find a way to pump more money into Social Security.
Source Fool.com
