Retirees stand to lose an average of $500 a month from their Social Security payments in the next seven years if nothing is done. For 16 years, the cost of Social Security has exceeded the amount it receives from taxes collected. It has been reported that by 2032, those reserves will be depleted. The “One Big Beautiful Bill” is projected by experts to worsen the continuation of Social Security. The tax breaks, like not taxing tips and overtime, and even the senior deduction, means less earned income will go to the payroll tax from 2025 to 2028, and the program will collect even less incom