Understanding Social Security Policies

What is a common political stance regarding Social Security in American politics?

• To eliminate Social Security entirely

• To privatize Social Security

• To not touch Social Security benefits

• To increase benefits significantly

What is a potential downside of eliminating the federal income tax on Social Security benefits?

• It would increase the retirement age

• It could lead to increased benefits

• It might accelerate the depletion of trust funds

• It would have no impact on the trust funds

How might raising the retirement age affect low-income workers and black Americans?

• They would have to pay more taxes

• They would receive more benefits

• They would be unaffected

• They might not live long enough to collect as much from the system

What was the proposed cut to the Social Security's disability insurance program during Trump's first term?

• $30 billion over a decade

• $100 billion over a decade

• $70 billion over a decade

• $50 billion over a decade

What is the error rate for overpayments and underpayments in disability benefits?

• Less than 1%

• About 5%

• Around 10%

• More than 15%

What impact could mass deportations of undocumented immigrants have on Social Security?

• Decrease in retirement age

• No impact on Social Security

• Increase in Social Security funds

• Cost Social Security hundreds of billions

What is one way individuals can advocate for the preservation of Social Security?

• By ignoring political developments

• By voting and contacting representatives

• By reducing their own benefits

• By increasing their own taxes

What should individuals do if the retirement age is increased?

• Retire earlier

• Adjust savings goals to cover the gap

• Ignore the change

• Rely solely on Social Security

Why is it important to stay informed about changes to Social Security?

• Because it has no impact on personal finances

• Because it only affects government officials

• Because it can have a huge impact on financial future

• Because it is irrelevant to retirement planning

What is a suggested action for individuals to take regarding their retirement plan?

• Review and adjust their retirement plan

• Ignore changes in policies

• Avoid diversifying income sources

• Rely solely on Social Security