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Senator Dare suggests lowering Social Security benefits by reducing the rate at which Average Indexed Monthly Earnings are converted to the Primary Insurance Amount for

Senator Dare suggests lowering Social Security benefits by reducing the rate at which Average Indexed Monthly Earnings are converted to the Primary Insurance Amount for future retirees. Senator Snow instead proposes reducing the rate at which benefits are indexed to inflation so that when the Consumer Price Index rises by one percentage point, Social Security benefits rise by less than 1%.

Which proposal will be worse for current retirees?

For future retirees?

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