Growing U.S. inequality is worsening Social Security’s financial crunch, group says
Social Security’s looming funding crisis is usually blamed on demographics, with an aging U.S. population and declining birth rates leaving fewer workers to support retirees. But another force is also draining the program’s finances: widening income inequality. In the last few decades, incomes of higher-paid Americans have soared, far outpacing those of low- and middle-class workers. That’s … Read more