Answer: One prevalent myth about Social Security is its financial solvency. Contrary to popular belief, recent audited reports reveal a surplus, projected to continue until 2023. After this, outflows are expected to surpass inflows, depleting the surplus over approximately 10 years. Without intervention, Social Security contributions could cover 77% of promised benefits. Thus, the crucial question isn’t whether funds will run out, but rather if one prefers ¾ of $3000 or ¾ of $2000.
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