Saturday, August 03, 2024

The law of unintended consequences may force Republicans to cut Social Security benefits.

On the campaign trail, very few Republicans will say they wish to cut Social Security benefits, but they tend to oppose raising the cap on income subject to the Social Security tax. Without increased revenue, the benefits will, most likely, need to be cut due diminishing funds in the trust fund and demographic changes in the population. Cuts would have to happen anyway due to the law of unintended consequences.

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