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<ul class="summary-list"><li>Trump wants to cut taxes on Social Security benefits, impacting current and future beneficiaries.</li><li>Experts warn these cuts could deplete the Social Security fund three years earlier than expected.</li></ul>Donald Trump plans to make changes to America's Social Security system with his return to the White Housein January. The president-elect promised on the campaign trail to <a target="_blank" class="" href="https://www.businessinsider.com/trumps-tax-plan-social-security-retirement-medicare-2024-8">cut taxes on Social Security benefits</a> in his second term. "People on Social Security are being killed, and one of the things I'm doing is no tax for seniors on Social Security, and I'll get it done quickly," Trump told "Fox &amp; Friends" in August. For some baby boomers, lower <a target="_blank" class="" href="https://www.businessinsider.com/retirement-savings-social-security-baby-boomers-without-savings-401k-poverty-2024-8">Social Security</a> taxes could mean larger monthly checks in the short-term. But experts predict that the <keyword id="23944791" type="General" weightage="20" keywordseo="Social-Security-tax-cuts" source="keywords">Social Security tax cuts</keyword>, along with other campaign promises made by Trump, could quickly drain the national Social Security fund. That would put benefits at risk for low-income retirees and younger generations, who may <a target="_blank" class="" href="https://www.businessinsider.com/retirement-savings-social-security-baby-boomers-without-savings-401k-poverty-2024-8">rely on that income</a> as they age. "It's designed to help retirees, but the people it's going to hurt are people that rely on Social Security the most," Taylor Lee, a certified financial planner at Belmont Capital Advisors, told BI of Trump's Social Security tax cut. More than 72 million Americans receive Social Security and the estimated average monthly check is <a target="_blank" href="https://faq.ssa.gov/en-us/Topic/article/KA-01903">$1,92</a>4.35 a month, per the Social Security Administration. Americans can begin taking Social Security at age 62, or wait until their full benefits kick in at 67, the national retirement age. Trump's campaign promise comes as Business Insider has <a target="_blank" class="" href="https://www.businessinsider.com/older-americans-regret-retirement-savings-taking-social-security-early-investments-2024-10">heard from older adults</a> with limited retirement savings, many of whom are struggling to afford necessities like housing and groceries on their fixed Social Security income. Income taxes on Social Security apply to all beneficiaries with an annual household income above $25,000, and most pay taxes on at least <a target="_blank" href="https://www-origin.ssa.gov/benefits/retirement/planner/taxes.html">50%</a> of their benefits. Lower-income beneficiaries pay less in taxes. <h2>Social Security tax cuts would hurt low-income retirees, younger generations</h2>US Social Security will be depleted<a target="_blank" href="https://www.businessinsider.com/when-will-social-security-benefits-run-out-retirement-crisis-boomers-2024-5">in the next decade</a> without Congressional action. The fund is largely financed through payroll taxes that Americans contribute to throughout their career. <a target="_blank" href="https://www.crfb.org/blogs/what-would-trump-campaign-plans-mean-social-security">A report</a> published in October by the nonpartisan Committee for a Responsible Federal Budget said that Trump's campaign promises — which alsoincludes ending taxes on tips, reducing <a target="_blank" class="" href="https://www.businessinsider.com/trump-tax-plan-tarriffs-benefits-top-earners-study-2024-10">some income taxes</a>, expanding deportations, and imposing tariffs — would take a toll on the Social Security fund, making it "insolvent" within the next six years. That's three years earlier than the Congressional Budget Office's current estimation. Those policies would also lead to a 33% <a target="_blank" class="" href="https://www.crfb.org/blogs/what-would-trump-campaign-plans-mean-social-security">benefit cut</a> in 2035, a 10% increase from what the Congressional Budget Office projects under the current law. Lee said that low-income boomers and younger generations are likely to feel the brunt of these cuts. Low-income boomers living on Social Security already pay less income taxes, so they wouldn't see the benefits Trump promised. Lee said that many don't have other <a target="_blank" class="" href="https://www.businessinsider.com/social-security-no-savings-snap-benefits-debt-boomers-experiences-2024-6">retirement savings </a>to fall back on if their benefits are slashed. He added that older Americans who are wealthy or middle class would feel less stress from Social Security cuts, and may benefit in the short term from Trump's tax plan. "It would help people in the middle class, people that have the luxury of having a 401(k) or an IRA and have multiple sources of retirement income," Lee said. "But the people that's going to hurt the most are people that don't have that traditional retirement income." Lee said it's possible that <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-social-security-insolvency-medicare-donald-trump-biden-mcconnell-2023-3">younger generations</a> will have lower Social Security benefits, requiring them to rely more heavily on retirement savings. To be sure, any changes Trump hopes to make the tax or Social Security systems would need to be approved by Congress. Working in his favor is that the<a target="_blank" class="" href="https://www.businessinsider.com/republicans-win-senate-election-majority-election-2024-11">Senate will have a Republican majority</a>.(Votes for House representatives are still being counted.) Lee added that tax funding is also not the only challenge facing Social Security: people are living longer, meaning that more benefits funding is required per person. As for other retirement finances, like <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/what-is-401k">401(k) accounts</a> and <a target="_blank" href="https://www.businessinsider.com/donald-trump-election-victory-impact-investments-costs-housing-taxes-childcare-2024-11">investments</a>, it's unclear what impact a second Trump term will have. The president-elect plans to impose tariffs on foreign goods and make broad tax cuts, a move that is likely to drive inflation and make the cost of living <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">more expensive</a>. With the <keyword id="23944794" type="General" weightage="20" keywordseo="future-of-Social-Security" source="keywords">future of Social Security</keyword> uncertain, Lee said it's important for retirees to build a strong financial plan. "There's a lot of planning that we can still do," Lee said. "Government policy — we really can't affect that. So we just have to control what we can control." Are you relying on Social Security in retirement? Are you adjusting your retirement plans based on Trump's return to office? If so, reach out to this reporter at <a target="_blank" class="" href="mailto:allisonkelly@businessinsider.com">allisonkelly@businessinsider.com</a>.

Trump's plan for Social Security will help baby boomers in the short term and cut benefits for anyone younger

Delhi continued to battle with air pollution for the 10th consecutive day post-Diwali as a dense layer of smog blanketed parts of the national capital on Sunday. Several parts of the national capital recorded very poor air quality levels on Sunday morning as per the data issued by the System of Air Quality and Weather Forecasting And Research (SAFAR-India). Today morning, Anand Vihar recorded an AQI of 351, Bawana 383, CRRI Mathura Road 323, Dwarka Sector 8 at 341, IGI Airport at 326, ITO 328, Lodhi Road 319, Mundka at 358, Najafgarh at 341, New Moti Bagh at 394, Okhla phase-2 at 339, RK Puram at 368, and Wazirpur at 366, as per SAFAR-India data. As of 5 pm on November 10, Delhi's AQI stood at 334, with Anand Vihar at 353, Dilshad Garden at 262, and Jahangirpuri at 377. For tomorrow, AQI in adjoining cities of Noida and Gurugram is forecasted to be at 208.92 and 77.51, respectively. Multiple visuals from Delhi's Kartavya Path showed the area surrounding India Gate engulfed by a layer of smog. The AQI in the area was recorded at 357 as of 7 am. High-rise buildings were also covered in smog in the Kalindi Kunj and surrounding locality, as the AQI was recorded as 323 in the area. An AQI is considered "poor" between '200 and 300', "very poor" at '301 and 400', "severe" at '401-450," and 450 and above is "severe plus." As the air pollution levels in the national capital reach "very poor," doctors say that even people with no history of respiratory diseases are suffering from breathing issues. Dr. Nikhil Modi, Senior Consultant for Respiratory Critical Care at Apollo Hospital, told ANI that apart from the regular patients, those who haven't had any respiratory issues in the past are showing up with symptoms such as runny noses, sneezing, coughing, and having increasing difficulties breathing. As it is, respiratory illnesses in the national capital are estimated to have shot up by around 15-20%. The Apollo doctor further suggested that the government close the schools for children as they remain vulnerable. Whenever the pollution levels have gone beyond a certain limit, the government has opted to close the schools, Dr. Modi said. "For the last few years, we have been seeing that the government has taken action. Whenever this pollution level has gone beyond a certain limit, they have opted to close the schools. This is important because children are from a vulnerable group. As adults, we are masked and can protect ourselves better, but children usually are not that effectively taking these measures. Secondly, their lungs are still in developing stages, so they are bound to have more harm due to this pollution," the doctor told ANI. Siddharth Singhal, Head of Health Insurance, Policybazaar.com, notes that while most standard health plans in India cover pollution-related ailments, it is always advised to also go for an OPD plan along with a health insurance plan to cover consultations, medications, and diagnostic tests that may be required frequently due to pollution. "Pollution levels in Delhi-NCR and some other parts of India have shot up post Diwali. Effects of this are very evident in the form of sore throats and breathing problems, among others. This can also result in respiratory ailments and chronic conditions like asthma, bronchitis, Chronic Obstructive Pulmonary Disease (COPD), pneumonia, and severe cases of respiratory or bronchial obstruction. Health insurance becomes critical to cover such expenses. Most policies typically cover emergency hospitalization for respiratory issues like asthma or COPD exacerbations requiring ICU or critical care," he adds.

Layer of smog covers Delhi as air quality remains 'very poor'. Here's why you need an insurance cover for this

The advent of <keyword id="22080410" type="General" weightage="100" keywordseo="AI-in-the-classroom" source="keywords">AI in the classroom</keyword> has been nothing short of revolutionary. Even as we struggle to grasp the full extent of what this tool can help us achieve in the educational world, <keyword id="22965286" type="General" weightage="20" keywordseo="AI-powered-educational-games" source="keywords">AI-powered educational games</keyword>, <keyword id="22965287" type="General" weightage="20" keywordseo="adaptive-learning-platforms" source="keywords">adaptive learning platforms</keyword>, <keyword id="22965288" type="General" weightage="20" keywordseo="student-chatbots" source="keywords">student chatbots</keyword> and <keyword id="22965289" type="General" weightage="20" keywordseo="automated-grading-systems" source="keywords">automated grading systems</keyword> have already been making waves in the sector. Despite all the scepticism around flouting tradition, educators see the potential of AI and over 60% of them use AI in their classrooms, a Forbes Advisor’s survey <a href="https://www.forbes.com/advisor/education/it-and-tech/artificial-intelligence-in-school/">said</a>. But giving students access to AI can be likened to Jack getting his hands on the magic beans. Once they climb the metaphorical beanstalk, the possibilities are endless. There’s treasure there, but also the Giant. <h2>The magic beans</h2>AI’s ability to personalise learning experiences is undoubtedly magical. It’s amazing how it can analyse a student’s strengths and weaknesses, tailor lessons and practice questions to meet individual needs. This means students can learn at their own pace, focusing on areas where they need the most improvement. There’s a number of <keyword id="21521584" type="General" weightage="20" keywordseo="AI-powered-apps" source="keywords">AI-powered apps</keyword> and tools that can “assist” with their schoolwork. Whether it’s a complex algebra equation or a challenging essay topic, AI can provide answers and explanations in seconds. For students who struggle with certain subjects, these can provide the extra support they need to keep up with their peers. Further, students can use AI to generate ideas, conduct research, and explore new topics, making it a versatile tool in the educational toolkit. <div type="Article" hostid="261" msid="112525738" title="This high school is replacing teachers with ChatGPT and AI tools to personalize learning for some students" mstype="2" mssubtype="0"></div><h2>Greedy Jack</h2>While most AI-tools are well-intentioned, in the wrong hands, they could be disastrous. Students are increasingly turning to AI-powered apps and tools to get their schoolwork done. Apps like Gauth, which help solve maths problems by simply scanning them, have become a hit among high school and college students. These tools offer immediate, step-by-step solutions, making homework less daunting and more manageable. However, educators are also dealing with the getting-AI-to-do-your-homework-for-you epidemic. The prospect of simply outsourcing your work to AI is something even adults struggle with, so how are children to resist? Tim Urban’s instant gratification monkey sort of takes over for most students, who would rather take the easy way out and end up heavily relying on AI to complete their assignments. The geniuses who manage to get away with it may think they have won. But this little victory comes at a hidden cost. <h2>Fee-fi-fo-fum </h2>That’s the sound the consequences of your actions make when they come. A recent <a href="https://www.frontiersin.org/journals/artificial-intelligence/articles/10.3389/frai.2024.1415782/full">study</a> conducted in Sweden found that while <keyword id="7795449" type="General" weightage="20" keywordseo="ai-chatbots" source="Orion">AI chatbots</keyword> can be of immense help to adolescents struggling with executive functioning, it can also hinder or delay development in students. Others have also echoed the sentiment, worrying that it can lead to the students’ potential erosion of critical thinking and problem-solving skills. Additionally, AI tools, while impressive, are not infallible. They can make mistakes, especially with more complex tasks, and students who use these tools without understanding the underlying concepts may find themselves unprepared for exams or higher-level courses. This overreliance on AI could result in a superficial understanding of the subject matter, which could hinder academic performance in the long run. There’s also the issue of academic integrity. While AI can be a helpful study aid, using it to complete entire assignments without contributing personal effort crosses into the darkly tempting territory of cheating. The ease with which students can produce AI-generated work has raised concerns among educators about maintaining fairness and honesty in academic assessments. <div type="Article" hostid="261" msid="111053674" title="AI app &amp;#39;PadhAI&amp;#39; solves UPSC 2024 prelim exam paper in seven minutes, scores 170 out of 200!" mstype="2" mssubtype="0"></div><h2>The moral of this story is balance </h2>To harness the benefits of AI while evading its pitfalls, a balanced approach is essential. Educators should incorporate AI into the classroom in a way that complements traditional learning methods rather than replacing them. This might involve using AI to provide personalised practice questions or to offer additional support for struggling students, while still emphasising the importance of critical thinking and independent problem-solving. Schools also need to educate students on the ethical use of AI, helping them understand when it’s appropriate to use these tools and when they need to rely on their own knowledge and skills. Teaching digital literacy and promoting an "Honor Code" for AI use can help students navigate this new technological landscape responsibly. As AI continues to evolve, it’s up to educators, parents, and students to strike the right balance — leveraging AI’s strengths while ensuring that it enhances, rather than diminishes, the educational journey.

School students are loving AI tools like ChatGPT, but there are some obvious pitfalls to this!

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Trump's plan for Social Security will help baby boomers in the short term and cut benefits for anyone younger

Allie Kelly

Layer of smog covers Delhi as air quality remains 'very poor'. Here's why you need an insurance cover for this

BI India Bureau

School students are loving AI tools like ChatGPT, but there are some obvious pitfalls to this!

Ashmita Gupta

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