Understanding Social Security Reforms

What promise did President Trump make regarding Social Security benefits?

• To increase benefits by 10%

• To not cut Social Security benefits

• To eliminate Social Security taxes

• To raise the retirement age

What was one of the efficiency measures taken by Trump's administration?

• Raising the retirement age

• Eliminating Social Security taxes

• Increasing the SSA workforce

• Reducing the SSA workforce

What is the role of the Department of Government Efficiency?

• To increase Social Security benefits

• To streamline federal operations

• To raise the retirement age

• To eliminate Social Security taxes

What was the proposed tax break for seniors in Trump's tax plan?

• No tax break was proposed

• $2,000 deduction for all retirees

• Complete elimination of Social Security taxes

• $4,000 deduction for seniors over 65

What could be a consequence of eliminating Social Security taxes entirely?

• Immediate tax revenue increase

• No impact on the trust fund

• Trust fund insolvency by 2031

• Increased Social Security benefits

Which of the following is a proposed solution to increase Social Security revenue?

• Reducing benefits for all

• Raising the payroll tax rate

• Lowering the retirement age

• Eliminating Social Security entirely

What is the current cap on income taxed for Social Security?

• $200,000

• No cap exists

• $168,600

• $100,000

What is one reason lawmakers struggle to agree on Social Security reforms?

• Political disagreements

• Lack of public interest

• Excessive funding

• No available solutions

What is a key piece of advice for individuals regarding Social Security?

• Rely solely on Social Security for retirement

• Ignore political discussions

• Stay informed and plan for retirement

• Expect benefits to increase significantly

What is the potential impact of not addressing the Social Security funding issue?

• Benefits will be guaranteed by law

• Benefits will increase automatically

• Benefits will be cut automatically

• No impact on benefits