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Here are five reasons whydoing away with Social Security taxescould be a mistake.
Its like getting a small bonus today, but losing your entire retirement savings tomorrow.
If we eliminate the tax that funds it, your retirement safety net disappears, Lokenauth noted.
Think about this: the average retiree gets $1,800 monthly from Social Security.
Most Americans (about 64%) dont even have $10,000 saved for retirement.
Consider this: every Social Security dollar generates about $2 in economic activity.
Its like paying twice for half the benefit.
Its no secret that Social Security is in trouble.
Without changes, younger generations wont receive 100% of their benefits.
Rather than eliminating Social Security taxes, Id argue for targeted reforms to ensure the programs sustainability.
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