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Social Security benefits could be cut 22% in 2032—and one fix would mean a 40% payroll tax hike for millennials and Gen Z

Fortune
Social Security benefits could be cut 22% in 2032—and one fix would mean a 40% payroll tax hike for millennials and Gen Z

Retirees are getting a 3.6% raise in 2027, but the program’s main trust fund is set to run dry in less than seven years.

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