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Social Security and Trump

swing_voter

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President Trump Just Dealt a Devastating Blow to Social Security

And a lot of seniors may end up hurting for it.

President Trump is proposing a payroll tax break that would allow employees to defer their Social Security and Medicare taxes from the beginning of September through the end of the year. That alone isn't terrible for Social Security. If those taxes are paid by the 2020 filing deadline, the program won't technically lose out on the revenue it would otherwise collect during the latter part of 2020; rather, it will just wait a little longer to get that money.

The problem, however, is that President Trump is looking to forgive those payroll taxes completely if he's reelected into office. And that's where Social Security could run into serious trouble.



Jesus. We'll have old people digging through dumpsters for food.

Thanks Trump.
 

Luce

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Jesus. We'll have old people digging through dumpsters for food.

Thanks Trump.

Something something making America great something something.
 

Rogue Valley

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Senior voters had better wake up quickly.

Trump plans to take away your Social Security income and your Medicare insurance if he is reelected on November 3rd.
 

mrjurrs

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Jesus. We'll have old people digging through dumpsters for food.

Thanks Trump.

Maybe he's saving for the healthcare plan that's going to be the most blah, blah, blah.
 

CaughtInThe

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Moderate Right

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Jesus. We'll have old people digging through dumpsters for food.

Thanks Trump.

Ummmmmmmmmmm, is this really how uninformed you are on the subject? This is old news and you don't even know what you are talking about. Assuming the tax cut is made permanent, the money that wasn't collected is just taken from the general fund, meaning that these programs wouldn't lose a dime. Are you now just getting worried that the programs will eventually run out of money? That's been known for like more than 10 years now.
 

Casper

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This should be good watching the trumplings scramble for excuses.
:popcorn2:
 

bearpoker

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Jesus. We'll have old people digging through dumpsters for food.

Thanks Trump.

Trump is in the pre-election Promise the Moon stage. He's probably lying as unusual, but who knows? He might be telling the truth. He wants to look good to voters, so he's giving their paychecks a temporary boost between now and election day. The only trouble is that senior voters won't take kindly to having their livelihoods endangered and they're likely to notice a promise to defund Social Security, even if it is a lie. Trump is shooting himself in the foot.
 

Casper

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Ummmmmmmmmmm, is this really how uninformed you are on the subject? This is old news and you don't even know what you are talking about. Assuming the tax cut is made permanent, the money that wasn't collected is just taken from the general fund, meaning that these programs wouldn't lose a dime. Are you now just getting worried that the programs will eventually run out of money? That's been known for like more than 10 years now.

You are not going to have much money in a general fund if you are not collecting payroll taxes. By the way General Funds don't require the money to be spent on any particular program, that is why it is called a General Fund, heck trump could raid to like he does other funds to pay for his pet projects. Good Grief.....
 

bearpoker

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Ummmmmmmmmmm, is this really how uninformed you are on the subject? This is old news and you don't even know what you are talking about. Assuming the tax cut is made permanent, the money that wasn't collected is just taken from the general fund, meaning that these programs wouldn't lose a dime. Are you now just getting worried that the programs will eventually run out of money? That's been known for like more than 10 years now.

Social Security goes into the general fund now. What this really would do is balloon the deficit. Of course Republican deficits are fine with the right, so all would be well.:mrgreen:
 

lemmiwinx

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Give Americans a tax break what is Trump thinking? BTW he never said anything about cutting benefits.
 

Luce

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Give Americans a tax break what is Trump thinking? BTW he never said anything about cutting benefits.

I think we need to get a teenage crack dealer from South Tucson to come in and explain basic economics here.
 

tylerTeach

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What appeal does cutting a universal program like Social Security have to Trumpians? Is it just a smaller govt argument, less taxes in general... isn't Trump's base old?
 

George50

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Ummmmmmmmmmm, is this really how uninformed you are on the subject? This is old news and you don't even know what you are talking about. Assuming the tax cut is made permanent, the money that wasn't collected is just taken from the general fund, meaning that these programs wouldn't lose a dime. Are you now just getting worried that the programs will eventually run out of money? That's been known for like more than 10 years now.

Actually, it’s you that is uninformed. If things stay as they are then Social Security will never run out of money but it may only be able to pay about 75% or so of benefits in 2034 or so. On the other hand if the tax cut is made permanent then Social Security will certainly run out of money. The general fund is only obligated to pay back money it borrowed from the Social Security trust fund.


Sent from my iPad using Tapatalk
 

Bullseye

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Jesus. We'll have old people digging through dumpsters for food.

Thanks Trump.
It's a few months recess, not the end of the world. It may even prompt some actual discussion on what to do about Social Security.
 
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