Social Security provides financial support not only for retirees but also for disabled workers, families, and children. Eligibility hinges on proper payment of payroll or self-employment taxes. Recently uncovered fraudulent payments have raised alarms, with experts fearing the fund could become insolvent by 2034. Steps are being taken by President Trump to combat fraud, ensuring the integrity of the program. Young Americans are urged to understand Social Security's mechanics, as its future stability affects everyone who contributes.
Social Security also serves disabled workers, families, and children, not just retirees, making it an essential safety net for various Americans.
The potential for trillions in fraudulent payments to Social Security raises concerns, especially as remediation efforts may take years, threatening future benefit cuts.
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