[D]ue to how the Social Security benefit formula interacts with the sharp economic downturn due to the Coronavirus, some groups of near-retirees are likely to suffer substantial permanent reductions to their Social Security retirement benefits. Assuming a 15 percent decline in the Social Security Administration’s measure of economywide average wages in 2020, a middle-income worker born in 1960 could have his annual Social Security benefits in retirement reduced by around 13 percent, with losses over the retirement period in excess of $70,000.
That’s terrible. How can we fund nursing home Petri dishes if Social Security benefits are cut?
Now that’s three CDC studies—from a Chinese restaurant, a Korean call center, and an American choir practice—all finding that talking, laughing, singing in close quarters, in unventilated interiors, for many hours, is the perfect storm for a COVID super-spreader event. pic.twitter.com/PdpAmXlBY8