Trump says if he is reelected he will end the payroll tax

[independentusa]

If he ends the payroll tax, he will also end Medicare and Social Security that are paid for by the payroll taxes. The GOP will never allow a tax increase to pay for those programs that they hate. Beyond the fact that many elderly rely in part and some in total for the income from Social Security, it will create 44 million more Americans without health insurance. When you add that to the 44 million Americans presently without health insurance and the 20 million that will lose their health insurance if the SCOTUS ends the ACA, a third of all Americans will be without health insurance. If the GOP were able to end Medicaid, that would add another 75 million and over 50% of Americans would be without. I guess that would make the top 1% happy because they would get another huge personal and business tax break, but I can tell you what you do not want to know what that would do to our health care system as a whole. So Trumpsters, keep telling yourself he is doing what is best for the country until you get sick and can not afford to go to a doctor if you can find one.

 

[Cardinal]

The fact that Democrats don't know how to hit this home over and over and over again is evidence of the superior messaging machine of the right. Trump could say on live television, "I'm going to turn all old people into mulch for my flower garden," and Fox News would rule the ratings with a looped clip of two black people punching each other in an inner city.

 

[SheWolf]

If he ends the payroll tax, he will also end Medicare and Social Security that are paid for by the payroll taxes. The GOP will never allow a tax increase to pay for those programs that they hate. Beyond the fact that many elderly rely in part and some in total for the income from Social Security, it will create 44 million more Americans without health insurance. When you add that to the 44 million Americans presently without health insurance and the 20 million that will lose their health insurance if the SCOTUS ends the ACA, a third of all Americans will be without health insurance. If the GOP were able to end Medicaid, that would add another 75 million and over 50% of Americans would be without. I guess that would make the top 1% happy because they would get another huge personal and business tax break, but I can tell you what you do not want to know what that would do to our health care system as a whole. So Trumpsters, keep telling yourself he is doing what is best for the country until you get sick and can not afford to go to a doctor if you can find one.

I am in shock. Does Trump really plan on destroying SSN and Medicare as a reelection strategy, or is he so stupid and inept that he doesn't realize what he is promising???

 

[Cosmik Debris]

I am in shock. Does Trump really plan on destroying SSN and Medicare as a reelection strategy, or is he so stupid and inept that he doesn't realize what he is promising???

I'm going to give him the benefit of the doubt and say the latter.

 

[Razoo]

If he ends the payroll tax, he will also end Medicare and Social Security that are paid for by the payroll taxes. The GOP will never allow a tax increase to pay for those programs that they hate. Beyond the fact that many elderly rely in part and some in total for the income from Social Security, it will create 44 million more Americans without health insurance. When you add that to the 44 million Americans presently without health insurance and the 20 million that will lose their health insurance if the SCOTUS ends the ACA, a third of all Americans will be without health insurance. If the GOP were able to end Medicaid, that would add another 75 million and over 50% of Americans would be without. I guess that would make the top 1% happy because they would get another huge personal and business tax break, but I can tell you what you do not want to know what that would do to our health care system as a whole. So Trumpsters, keep telling yourself he is doing what is best for the country until you get sick and can not afford to go to a doctor if you can find one.

What impact would the conversion to private accounts have on the national debt?

The government would have to borrow an additional $4 trillion over the next 20 years to make up the money that would be drained out of the system by private accounts. Former President Bush and Congress racked up an average $793 billion deficit each year Bush was in office. Social Security privatization would raise the size of the government’s deficit by another $300 billion per year for the next 20 years.

This does not seem to bother Republicans, as long as they are in power.

In fact, by the time the second Bush left office, the national debt had grown to $12.1 trillion. Over half of that amount had been created by Bush’s tax cuts for the very wealthy. Another 30% of the national debt had been created by the tax cuts for the wealthy under Presidents Reagan and George H.W. Bush.

Fully 81% of the national debt was created by just these three Republican Presidents.

How would the rest of the U.S. economy be affected if the private accounts replaced the current system?
Put simply, moving to a system of private accounts would not only put retirement income at risk—it would likely put the entire economy at risk.