Proposed reforms to save Social Security insolvency by 2033 [Video]
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Small Business Funding

Proposed reforms to save Social Security insolvency by 2033 [Video]

The main sources of revenue for Social Security, taxes on income and benefits, are falling short. Experts warn that if no action is taken, the program could face a 20% cut or more to benefits by 2033.Historically, workers paid more into Social Security taxes than what was paid out in benefits until 2010. Since 2021, the total cost has exceeded the program’s income from taxes and interest, and Congress has been borrowing to make up the difference. Congress previously spent surplus social security funds elsewhere.”If we want to help shore up its financing, looking at those sources of revenue and boosting them should be part of the solution,” Shai Akabas of the Bipartisan Policy Center said.It’s why researchers like Akabas are proposing a new funding strategy, warning the time to save Social Security is now. Beyond reducing benefits and upping taxes, other proposals include raising the retirement age, tying initial benefits to inflation instead of wages, and reducing the amount paid to wealthier beneficiaries.But change may be slow to come as Republicans and Democrats alike have promised to make little to no changes to the program. Several have instead promised policies that would only accelerate the path to insolvency.”People are reluctant to acknowledge the need for policy reforms,” Romina Boccia of the Cato Institute said.A delay over addressing the problem raises even more questions over whether solutions will come in time.”If there’s not much hope of those solutions getting put into law, the upside doesn’t look very appealing,” Akabas said.Researchers warn that Social Security should not be a primary source of retirement income and that individuals should be planning to save on their own.

Magazine Street businesses last minute Christmas gifts [Video]
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Small Business Funding

Magazine Street businesses last minute Christmas gifts [Video]

ARIELLE BRUMFIELD, WDSU NEWS. WELL, THE COUNTDOWN IS ON FOR CHRISTMAS. AND TONIGHT PEOPLE ACROSS OUR AREA ARE DOING THEIR LAST MINUTE SHOPPING. GOOD LUCK WITH THAT. A LOT OF ANXIETY. IM STILL EVEN WAITING FOR SOME PACKAGES TO ARRIVE. REPORTER JASMINE FRANKLIN IS LIVE FOR US ALONG MAGAZINE STREET, WHERE MANY SHOPPERS, JASMINE ARE GOING LOCAL, SUPPORTING MANY OF HER MOM AND POP BUSINESSES. YES, RANDY AND STELLA. WITH CHRISTMAS NOW JUST TWO DAYS AWAY, MANY SHOPPERS ARE TURNING TO LOCAL SMALL BUSINESSES AND THEY SAY THEIR GOAL IS TO SUPPORT SMALL BUSINESSES UP AND DOWN MAGAZINE STREET. IM DOING A WHOLE MAGAZINE STREET STRETCH. I DONT THINK ILL BE GOING TO THE MALL, BUT HOPEFULLY A LOT OF SMALLER BUSINESSES. DOZENS OF SHOPPERS LIKE SARAH MCKENDRICK SPENT THE DAY ALONG MAGAZINE STREET ON THE HUNT TO FIND LAST MINUTE PRESENTS TO GO UNDER THE TREE FOR THEIR LOVED ONES. I NEED TO FIND A GIFT FOR MY DAD. HAVENT BOUGHT HIM ANYTHING. AND THEN IVE BEEN TRYING TO GET MY MOM SOME STOCKING STUFFERS. THE HISTORIC STREET IS FILLED WITH RESTAURANTS, BOUTIQUES, AND ANTIQUE SMALL BUSINESSES LIKE NELSON BAY BEADS. THE BUSINESS TELLS WDSU THEY HAVE SEEN AN INCREASE IN FOOT TRAFFIC OVER THE LAST SEVERAL WEEKS, WITH LOTS OF CUSTOMERS IN THE HOLIDAY SPIRIT SEARCHING FOR SOMETHING SPECIAL. WEVE BEEN NOTICING AN UPWARD TREND IN SALES. SOME OF THE AFRICAN TRADE BEADS CO-OWNER JOSEPH BURBACH SAYS SHOPPERS HAVE BEEN PURCHASING A VARIETY OF ITEMS, INCLUDING KEYCHAINS, STONES AND BEADED JEWELRY. THE BEAUTY OF THE BEADS AND THE CHRISTMAS GIFTS IS THAT ITS SOMETHING THAT YOURE GOING TO KEEPSAKE THAT YOU CAN WEAR, YOU CAN CARRY THAT. YOU CAN REMEMBER THAT PERSON ALL THROUGH THE YEAR, NOT JUST DURING THE SEASON. NELSON BAY BEADS STOREFRONT SITS ALONGSIDE SLOWDOWN, ANOTHER SMALL BUSINESS THATS SEEN AN INFLUX IN SALES. OH YEAH, THE PAST COUPLE OF WEEKS HAVE BEEN CRAZY. KATE FRENETTE, WHO WORKS AT THE SMALL BATCH DEPARTMENT STORE, SAYS THE BUSINESS HAS BEEN FILLED WITH MORE CUSTOMERS SINCE THANKSGIVING. MANY PEOPLE ARE PURCHASING NOVELTY ITEMS AS GIFTS. WE ARE A REALLY GREAT SPOT FOR LAST MINUTE SHOPPING. WE HAVE SOMETHING FOR EVERYONE. WE HAVE BOOKS, CANDLES, MUGS, CLOTHING, JEWELRY, BLANKETS, WHATEVER YOU CAN THINK OF. AND ALTHOUGH BOTH BUSINESSES HAVE CLOSED FOR TONIGHT, THEY WILL BE OPEN ON CHRISTMAS EVE. IF YOU HAVE ANY LAST MINUTE HOLIDAY GIFT SHOPPING TO COMPLETE. REPORTING LIVE IN

Community support continuing to grow, after Greensboro police officer killed in the line of duty [Video]
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Home Based Business

Community support continuing to grow, after Greensboro police officer killed in the line of duty [Video]

NEWS. ALL RIGHT, CHRIS, THANK YOU. OUR ERIN BURNETT CONTINUES OUR TEAM COVERAGE. SHES LIVE OUTSIDE GREENSBORO POLICE HEADQUARTERS, WHERE OFFICER HORANS CRUISER IS NOW A MEMORIAL. HOW IS THE COMMUNITY PAYING THEIR RESPECTS TODAY? ERIN? THATS RIGHT. LINDSEY. GOOD AFTERNOON. ITS BEEN A SOMBER MORNING HERE. AS FOLKS CONTINUE TO FILL IN. OFFICER HORANS MEMORIAL. A PARKED POLICE CAR OUTSIDE OF THE GPD DEPARTMENT BUILDING. FOLKS HAVE DROPPED ITEMS LIKE WREATHS AND HOODIES ON THE COP CAR. ONE MAN I SPOKE TO TOLD US HE WILL REMEMBER OFFICER HORANS KINDNESS AND HELPING HIS FAMILY IN THEIR OWN TIME OF GRIEF, WHEN THEY HAD LOST A LOVED ONE. THE TURNOUT HAS BEEN PEOPLE OF ALL AGES AS WELL, INCLUDING 111 YEAR OLD BOY WHO SAYS OFFICER HORAN CHANGED HIS LIFE. HE MADE ME FEEL LIKE I CAN PUSH MY LIMITS AND GO FARTHER WITH MY LIFE AND MADE ME FEEL GOOD AND HAPPY AND JOYFUL. AND THATS TRULY AN INDICATION OF THE IMPACT THAT OFFICER HORAN HAS HAD IN THE GREENSBORO COMMUNITY. THE GREENSBORO POLICE OFFICERS ASSOCIATION STARTED AN ONLINE FUNDRAISER FOR HIS FAMILY, AND ITS BEEN GROWING ALL DAY NOW, OVER $72,000 TO LEARN MORE ABOUT OFFICER HORANS LIFE AND HOW TO GIVE. VISIT OUR WEBSITE. WXII 12.CO