How does social security impact income inequality?

How does social security impact income inequality?

Social Security helps reduce income inequality by providing a safety net for retirees and low-income individuals.

Can you explain how it benefits low-income families?

Certainly! Social Security provides monthly benefits that help low-income families meet their basic needs, reducing poverty.

What are the challenges facing the Social Security system?

Challenges include funding shortfalls, an aging population, and the need for reforms to ensure long-term sustainability.

Are there any proposed reforms to improve the system?

Yes, proposals include increasing the retirement age, adjusting benefits, and raising the payroll tax cap to enhance funding.