Understanding the Impact of the 1983 Social Security Rule on Retirement Benefits
Sunday, 28 April 2024, 10:07
A 1983 change to Social Security has consequences to this day
Seniors losing significant Social Security benefits due to taxable laws passed in 1983 and 1993.
A taxing problem for retirees
- Problem: Taxable laws led to an average annual loss of over $3,000 for retirees.
- Historical Perspective: Taxation introduced in 1983 and 1993 without inflation indexing.
- Current Situation: Growing number of seniors affected by increasing tax bills.
Unfortunately, many seniors are losing thousands of dollars worth of Social Security benefits every year due to a problematic rule.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.