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Social Security: How it works, and why it's the "third rail" of U.S. politics

The article from MSN discusses Social Security, a pivotal U.S. government program established in 1935 to provide financial support to retirees, the disabled, and survivors of deceased workers. It explains how Social Security functions through payroll taxes, with workers contributing a portion of their earnings, matched by their employers, into the system. The funds are then redistributed as benefits based on an individual's earnings history and the age at which they retire. The article highlights why Social Security is often referred to as the "third rail" of American politics due to its immense popularity and the political risk associated with any attempts to reform or cut it. It notes that while the program faces future funding challenges due to demographic shifts like an aging population and lower birth rates, any changes to Social Security are politically sensitive, as evidenced by past political campaigns where candidates who proposed changes faced significant backlash. The piece also touches on the ongoing debate about the program's sustainability, with suggestions for solutions ranging from increasing the retirement age to adjusting benefits or payroll taxes.

Read the Full Axios Article at:
[ https://www.msn.com/en-us/politics/government/social-security-how-it-works-and-why-it-s-the-third-rail-of-u-s-politics/ar-AA1BDKEo ]