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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.
Jesus. We'll have old people digging through dumpsters for food.
Thanks Trump.
Jesus. We'll have old people digging through dumpsters for food.
Thanks Trump.
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.
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.
Give Americans a tax break what is Trump thinking? BTW he never said anything about cutting benefits.
Give Americans a tax break OMFG what is Trump thinking? BTW he did say anything about cutting benefits you scaremongers.
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.
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.Jesus. We'll have old people digging through dumpsters for food.
Thanks Trump.
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