Key Points All Social Security beneficiaries could face a 22% benefit cut if nothing changes. This could be especially devastating to states with low average incomes. A 22% benefit cut is unlikely, but avoiding one might bring higher taxes for workers. The $23,760 Social Security bonus most retirees completely overlook › Social Security beneficiaries face a possible 22% benefit cut in just six years, if the estimates in the latest Trustees' Report prove accurate. There are few seniors who wouldn't be devastated by a blow like this, but some would get hit much harder than others. There are 10 states in particular whose residents would experience notable challenges as a result of such a benefit cut. Fortunately, this isn't the most likely outcome.
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