Retire Better: Social Security is on the line this election season — and senior citizens have enormous power

by | Aug 18, 2022 | Stock Market

Sometimes voters don’t necessarily connect the dots on things — the reason for this is another discussion. But let me provide an example, and it has to do with Social Security.  Consider that older Americans tend to vote in greater percentages than younger ones. In the 2020 presidential election, for example, 76% of Americans aged 65-74 voted, while just 51% of Americans aged 18-24 did. This data, provided by the Census Bureau, adds that there are similar correlations between education and voter turnout: The better educated you are, the more likely you are to vote. 

In the looming midterm election, now less than three months away, Republicans remain heavily favored—a 78% probability, says FiveThirtyEight— to regain the House of Representatives, which they lost during the last midterm election in 2018. The current 50-50 Senate split has a 62% chance of tilting in favor of the Democrats, solidifying their razor-thin hold on the upper chamber.  Seniors, tens of millions of whom are heavily dependent upon Social Security’s safety net, should pay closer attention to such things. The gargantuan program—which this year will distribute $1.2 trillion to 66 million Americans, is at a crucial crossroads. As I and other MarketWatch writer …

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