What element do the potential solutions of raising the retirement age, increasing payroll taxes, and reducing benefit payments all share?

A. Each one would completely solve the Social Security problem.
B. Each one would require someone to give up money and/or benefits.
C. Each one would be protested by people who are already retired.
D. Each one would force citizens to wait longer to collect benefits.

Question

16-07-2024
Social Studies

Answered

What element do the potential solutions of raising the retirement age, increasing payroll taxes, and reducing benefit payments all share?

A. Each one would completely solve the Social Security problem.
B. Each one would require someone to give up money and/or benefits.
C. Each one would be protested by people who are already retired.
D. Each one would force citizens to wait longer to collect benefits.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-16T13:14:53-04:00

Final answer:

Raising the retirement age, increasing payroll taxes, and reducing benefits share the common element of requiring someone to give up money and/or benefits.

Explanation:

The potential solutions of raising the retirement age, increasing payroll taxes, and reducing benefits all share the element of requiring someone to give up money and/or benefits. This is because each of these solutions involves a trade-off where individuals may need to contribute more, receive less, or wait longer to collect benefits.

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