a.[6] Why is the current structure of benefits and funding for U.S. Social Security expected to...

a.[6] Why is the current structure of benefits and funding for U.S. Social Security expected to be unsustainable without a change in the Social Security law? Give as complete a set of reasons as you can.

b.[6] Suppose that the only change in the law is a single fixed percentage change in the benefits paid. Every recipient would receive a fixed percentage of the benefit they would receive under current law. Estimate that percentage under the assumption that it will be as close to 100% as possible. Explain how you get your estimate, explaining the main factors that the percentage depends on.

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Rahul Sunny answered 1 year ago

What is the calculation of benefits from the u.s social security program?

Tax Drill - Social Security Benefits Determine the taxable amount of social security benefits for the...

Tax Drill - Social Security Benefits Determine the taxable amount of social security benefits for the following situations. If an amount is zero, enter "$0". a. Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of $36,000, no tax-exempt interest, and $12,400 of Social Security benefits. As a result, $_____ of the Social Security benefits are taxable. b. Assume Erwin and Eleanor have adjusted gross income of $12,000, no tax-exempt interest, and $16,000...

During the current year, Margaret and John received $24000 in Social Security benefits. The amount of...

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the current and expected future state of the Social Security system. respond to the following questions:...

the current and expected future state of the Social Security system. respond to the following questions: What challenges face the System and what caused them? Can you expect to receive the level of benefits that current retirees receive? Why (not)?

Why is Social Security expected to have financial difficulties in the coming decades?

social security benefits received during the year?

2) Assume that the Social Security tax rate is 6% and the Social Security maximum is...

2) Assume that the Social Security tax rate is 6% and the Social Security maximum is $140,000 per year. A) What is the effective tax rate on someone with a $70,000 salary? $4200 B) What is the effective tax rate on someone with a $140,000 salary? $8400 C) What is the effective tax rate on someone with a $1,400,000 salary?

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a) Why might the U.S. government, which funds Social Security, Medicare, and unemployment insurance programs by taxing wages, desire to find a way to reduce self-employment and inhibit the growth of the gig economy? b) Do you see the growth of the gig economy as a positive or negative trend in the economy? Explain. 1. In the first part, be sure to describe how these programs are funded to help support your position. 2. In the second part, briefly discuss...

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