The full retirement age for Social Security – the age in which you get 100% of the program's benefits – has risen over recent years.

Very few people will qualify for the maximum Social Security benefit. According to the Social Security Administration, only around 6% of people earn over the wage base limit in a given year. That leaves a ton of people who will never qualify for the maximum benefit.

Not all the Trump promises to cut tax on tips, overtime and Social Security made it into the proposed tax bill—and those provisions that did make it in are temporary.