Last week, the Social Security Act celebrated its 90th anniversary — a milestone for one of the United States’ most important so-called safety nets. The program has lifted millions of older adults out of poverty, steadied some households through economic shocks, and provided dignity for many in retirement.
But old tax rules are quietly undermining the program’s promise. A big reason why? The income thresholds for taxing Social Security benefits haven’t changed in more than 30 years.
