Portion of Total Population Collecting Social Security Benefits: 25.5 percent
Portion of Age 60 and Older Households Collecting Benefits: 82.3 percent
Many of the states affected the most by cuts to federal programs are in the rust belt, where reliance on programs like food stamps and Medicaid is more common. However, Social Security pays benefits to over a quarter of the population, distributing $7 billion to almost half a million West Virginians, according to Social Security Works.
And although cuts would likely be a major blow to the state, the low costs there could play an important role in softening the blow. The ability to get more out of each dollar is part of why West Virginia is one of the best states to retire rich.
To determine which states would be the most and least impacted by Social Security cuts, GOBankingRates calculated the ratio of people in each state earning Social Security benefits to the state population. The study also pinpointed the percentage of 60-and-over households with Social Security income. Data for this study was sourced from the Social Security Administration and the U.S. Census Bureau.
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