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Social Security: Higher Income Americans To Pay More, Benefit Barely Increases

Published October 20, 2016 at 1:33 PM EDT
In this Jan. 11, 2013 file photo, the Social Security Administration's main campus is seen in Woodlawn, Md. (Patrick Semansky/AP)
In this Jan. 11, 2013 file photo, the Social Security Administration's main campus is seen in Woodlawn, Md. (Patrick Semansky/AP)

Americans who receive social security heard news this week that there will be a meager increase in their monthly checks for 2017.

The Social Security Administration announced that the benefit would increase by 0.3 percent to reflect a cost of living increase.

Americans with higher incomes will also be paying more in payroll taxes next year to support the program.

Here & Now‘s Robin Young speaks with MSNBC’s Ali Velshi about what’s happening.

Guest

Ali Velshi, MSNBC anchor and economics correspondent. He tweets @AliVelshi.

Copyright 2020 NPR. To see more, visit https://www.npr.org.