The dire predictions about the underfunded nature of social security, medicare, and state and local pensions could be wrong because taxable incomes may turn out to be higher than they are currently predicted to be.
In the United States, the Old-Age, Survivors, and Disability Insurance (OASDI) programme, which is operated by the Social Security Administration (SSA), a government agency, is referred to as "Social Security." Although Social Security retirement benefits are its most well-known feature, Social Security also provides income for injured employees and survivor benefits. An insurance programme is Social Security. Employees contribute to the programme, usually through payroll deductions made where they work. When they submit their federal tax returns, independent contractors must pay Social Security taxes. Early retirement benefits are available to workers who have paid into the Social Security system for at least ten years starting at age 62.
Learn more about social security here:
https://brainly.com/question/23913541
#SPJ4
