The debate about Social Security: Age, wealth and taxes [View all]

Panelists were in agreement Wednesday that a bipartisan deal will have to be made to change the way Social Security is run to shore up the entitlement program.

What that deal consists of, however, will be shaped by who shows up to advocate for the remodel.

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Social Security is less than seven years from insolvency, at which point the law will call for a 24% cut to all benefits.

Despite facing deficits, Social Security continues to pay the country’s wealthiest couples roughly $100,000 in annual benefits. Just a few people enjoy the generous benefits currently, but that number will become increasingly more common, the committee said.

https://www.yahoo.com/news/articles/debate-social-security-age-wealth-030001700.html