Bottom line:
"... the 2023 Social Security benefit hike is nothing more than a cost-of-living adjustment to try to keep up with inflation, not get ahead of it.
...a growing percentage of their benefits will be taxed. Individuals earning more than $25,000 a year, and joint filers earning more than $32,000, will have to pay taxes on some or most of their benefits. As much as 85% of your benefits can be taxed, an absolute cheat because your contributions to Social Security were already made with after-tax money.."
https://www.barrons.com/articles/social-security-benefits-cola-increase-51665786214
"... the 2023 Social Security benefit hike is nothing more than a cost-of-living adjustment to try to keep up with inflation, not get ahead of it.
...a growing percentage of their benefits will be taxed. Individuals earning more than $25,000 a year, and joint filers earning more than $32,000, will have to pay taxes on some or most of their benefits. As much as 85% of your benefits can be taxed, an absolute cheat because your contributions to Social Security were already made with after-tax money.."
https://www.barrons.com/articles/social-security-benefits-cola-increase-51665786214