What Have Democrats Done for the Working Man/Woman - starnews_20250220_tsn-2025-02-20-a-007_art_5.xml
What Have Democrats Done for the Working Man/Woman SOCIAL SECURITY The Social Security Act was signed by Democratic President Franklin Delano Roosevelt on August 14, 1935. Regular ongoing monthly benefits started in February 1940. In 2024, about 71.6 million people received Social Security benefits. Social Security serves as the foundation upon which most Americans build and sustain their lives in retirement, lifting millions of households out of poverty and providing essential financial support. In 1983, Republican President Ronald Reagan signed legislation that authorized the taxation of Social Security benefits. The law was part of the Social Security Amendments of 1983, which also raised the full retirement age. Well, what about Trump's proposal to exempt Social Security benefits? How will that affect Social Security in the long run? If we stop taxing benefits, we can expect that Social Security will become insolvent in 2032 according to Forbes Magazine, which would lead to higher taxes and lower payments. As Representative Tiffany stated at his recent visit to Medford, there will be a 23% cut to Social Security benefits but he stated it would be in 2035. Paid for by the Democratic Party of Taylor County 164922 What Have Democrats Done for the Working Man/Woman SOCIAL SECURITY The Social Security Act was signed by Democratic President Franklin Delano Roosevelt on August 14, 1935. Regular ongoing monthly benefits started in February 1940. In 2024, about 71.6 million people received Social Security benefits. Social Security serves as the foundation upon which most Americans build and sustain their lives in retirement, lifting millions of households out of poverty and providing essential financial support. In 1983, Republican President Ronald Reagan signed legislation that authorized the taxation of Social Security benefits. The law was part of the Social Security Amendments of 1983, which also raised the full retirement age. Well, what about Trump's proposal to exempt Social Security benefits? How will that affect Social Security in the long run? If we stop taxing benefits, we can expect that Social Security will become insolvent in 2032 according to Forbes Magazine, which would lead to higher taxes and lower payments. As Representative Tiffany stated at his recent visit to Medford, there will be a 23% cut to Social Security benefits but he stated it would be in 2035. Paid for by the Democratic Party of Taylor County 164922
The 4th of July weekend can be a fun time for families and friends to gather. Remember to use courtesy, caution and common sense to make holiday memories worth keeping. BRIAN WILSON/THE STAR NEWS
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