1. Benefits saw their greatest increase in decades.
As a result, beginning in 2023, Social Security payouts for seniors increased by 5.9%. And at the time, the rise appeared to be substantial.
2. Those with greater earnings paid a greater Social Security tax
As a result, you may not have noticed that the wage ceiling increased from $142,800 to $147,000 in 2023, requiring higher incomes to pay taxes on an additional $4,200 of income.
3. Work credits become more difficult to get
In 2023, the price per credit increased from $1,470 to $1,510. Therefore, if you work really part-time and don't earn enough, you may not receive your four credits this year.