Question: is social security getting a raise this coming year?
Answer: Social Security recipients got a 1.6% raise for 2020, compared with the 2.8% hike beneficiaries received in 2019. ... Social Security tax rates remain the same for 2020—6.2% on employees and 12.4% on the self-employed. It now takes $1,410 to earn a single Social Security credit, up $50 from 2019.