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Many Americans, yound and old alike, are confused. They see the continued chipping away of Social Security benefits and wonder how much will be left for their children and grandchildren.
Their fears aren’t unfounded. As recently as eight years ago, Social Security benefits weren’t taxed at all. Now, 50 percent of those benefits may be taxable and some of our leaders would like to raise that to 85 percent.
Another idea being floated, this one by Rep. Dan Rostenkowski, chairman of the House Ways and Means Committee, would eliminate next year’s cost-of-living adjustment for Social Security beneficiaries. Over five years, that would cost single beneficiaries an average of more than $1,600 and married couples more than $2,800, according to the Congressional Budget Office. In ad
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