# Social Security benefits could be cut 22% in 2032—and one fix would mean a 40% payroll tax hike for millennials and Gen Z

- Source: Fortune
- Published: 2026-10-20T16:59:14+00:00
- Category: Business
- Original: https://fortune.com/2026/10/20/social-security-benefit-cuts-2032-payroll-tax-increase/
- Canonical: https://groundlevelnews.com/story/social-security-benefits-could-be-cut-22-in-2032-and-one-fix-would-mea-1660d0/

Retirees are getting a 3.6% raise in 2027, but the program’s main trust fund is set to run dry in less than seven years.

_Ground Level News shows a short summary only; the full article and all rights belong to Fortune._