- Aug 4, 2019
- Reaction score
- Political Leaning
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.