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A study published by the National Bureau of Economic Research in November 2022 found that 90% of workers ages 45 to 62 would maximize their Social Security by claiming benefits at age 70.
A separate analysis from the Center on Budget and Policy Priorities found that the poverty rate for adults aged 65 and above would be nearly four times higher if Social Security didn't exist -- 10 ...
Data source: Social Security Administration. Note: Payments have been rounded to the nearest dollar. Readers should pay attention to the average Social Security benefit at ages 62, 66, and 70.
A side effect of the Social Security program in the United States has been the near-universal adoption of the program's identification number, the Social Security number (SSN), as the de facto U.S. national identification number. The SSN is issued pursuant to section 205(c)(2) of the Social Security Act, codified as .
The United States tended to tax lower-income people at lower rates, and relied substantially on private social welfare programs: "after taking into account taxation, public mandates, and private spending, the United States in the late twentieth century spent a higher share on combined private and net public social welfare relative to GDP than ...
The minimum benefit is one dollar. [75] When benefits start. Social Security determines the first month of potential eligibility for SSI by the date of the intent to file an application for benefits as expressed to the Social Security Administration, and an application