内容摘要：conservative majority on Thursday said President Donald Trump likely has the authority to fire

conservative majority on Thursday said President Donald Trump likely has the authority to fire

The Social Security Administration will begin notifying recipients about their new benefit amount by mail starting in early December. Adjusted payments to nearly 7.5 million people receiving Supplemental Security Income will begin on December 31. Supplemental Security Income provides monthly payments to adults and children who have income below specific financial limits and qualify to receive Social Security benefits.Here’s what to keep in mind:

About 72.5 million people, including retirees, disabled people and children, get Social Security benefits.The program is funded by taxes on income subject to Social Security payroll taxes. The government uses taxes from working people to pay benefits to people who have already retired, people who are disabled, the survivors of workers who have died, and. In 2025, the Social Security payroll tax will be assessed on the first $176,100 of income, up from $168,600 this year

, which spotlights the key numbers leading our coverage.While the money is used to pay people currently receiving benefits, any unused money goes to the Social Security trust fund. Some of the money in the trust, together with the Social Security contributions of people in the workforce, pays for future benefits.

To determine what amount of Social Security you’ll receive, the government calculates a percentage of your highest wages from your top 35 years of earning, factoring in when you choose to start receiving benefits.

The COLA is calculated according to the Bureau of Labor Statistics’ Consumer Price Index, but there are calls to use a different index — one that measures price changes based on the spending patterns of the elderly — like healthcare, food and medicine costs.Still, “the best thing people can do to lower interest rates is to take matters into their own hands,” Schulz said. “Consolidating your debts with a 0% balance transfer credit card or a low-interest personal loan can have a far bigger impact on your debt load than most anything the Fed will do.”

The Fed’s benchmark rate doesn’t directly set or correspond to mortgage rates. But it does have a major indirect influence, and the two “tend to move in the same direction,” said LendingTree’s Channel.ahead of the Fed’s predicted cut.

“It goes to show that even when the Fed isn’t doing anything and just holding steady, mortgage rates can still move,” he said.Channel said that the majority of Americans have mortgages at 5%, so rates may have to fall further than their