What Difference Does Social Security Make To Poverty?May 11, 2011 5:33 am
Did you know, that without social security in the US, some 45 percent seniors would be below poverty line?
We spotted these stats on Social Security today:
“Without Social Security, 45 percent of seniors would be under the poverty line. With Social Security, 10 percent of seniors are under the poverty line.
For the average 65-year-old retiring in 2010, Social Security replaced about 40 percent of working-age earnings. That “replacement rate” is scheduled to fall to 31 percent in the coming decades.”
Statistics Source: EconomistsView