Low income workers might have difficulty saving for retirement with the tax burden anticipated in the Social Security 2100 Act. Although such workers may not pay income tax, they still pay payroll taxes, which might rise as much as 19%. This article provides a deep dive into more of the provisions of the proposed legislation.
Writer Kristen Alberino clearly outlines the basic facts and figures about Social Security. Is it only for retirement? What if you're married; what if you're divorced or widowed? How can you plan ahead for what your family will need in the second half of this century?
The US House of Representatives voted to pass the Raise the Wage Act to raise the minimum wage to $15.00 per hour. Inside the legislation is a nugget for workers with disabilities, which would phase out sub minimum wages for such workers, something employers have been doing since 1930.