Trump threatens to veto any COVID-19 bill that doesn't cut Social Security

[CousinIT]

https://www.rawstory.com/2020/07/congress-urged-to-reject-hostage-taking-as-trump-threatens-to-veto-any-covid-19-bill-that-doesnt-cut-social-security/

“Beware of the payroll tax cut! It is just the administration’s attempt to cut Social Security and Medicare.”

With President Donald Trump reportedly telling Republican lawmakers in private he will not sign Covid-19 relief legislation that doesn’t include a cut to the payroll tax—the primary funding mechanism for Social Security—advocacy groups urged Congress to “call Trump’s bluff” and pass a stimulus bill free of any stealth attacks on the New Deal program.

“Cutting Social Security contributions advances a longstanding right-wing ideological goal: Weakening our Social Security system,” Nancy Altman, president of Social Security Works, said in a statement late Thursday. “Congress must not give into Trump’s hostage-taking.”

CALL. YOUR. CONGRESSCRITTERS. NOW.

[malaise]

1. Let me be kind

Fuck the Con!

[usaf-vet]

43. Raise the with holding for SS to $400,000. This is Biden's plan if elected. Saving SS for years.

[Kensan]

57. The cap should be removed entirely...

If you removed the ceiling limit on FICA, you can actually do a few things. One, you obviously increase tax revenues directed to social security. Two, and more importantly, you can tweak the rate of tax at the same time. Wiser people than I can do the math, but I'd imagine you can still increase FICA tax collections even if you dropped the FICA rate from 6.2% to 5.8% (or something in that range).

That would mean most everyday workers experience a decrease in their tax withholding, so they have more net pay to help stimulate the economy. Those making more than the current $137,700 would pay more, but it's the same percentage burden folks at the lower wage scale have to absorb. Those making more are in the position to pay more.

Businesses would see a decrease in their matching 6.2% withholding, so they would increase their bottom line earnings. That's money that could be reinvested in the business operations. Ok, that's really theoretical...we know most of any additional income will get stripped out by the owners.

While Congress tinkers with the FICA cap and tax rate, they should make one more change in the tax code. The taxation of "carried interests" should be treated as what it really is...compensation for services performed. That would subject this income to FICA/Medicare withholding, too. No more free pass to private equity and real estate investors who don't have any skin in the game, but just draw a share of the gains on the back end of deals. Carried interests are currently treated as capital gain income, so receive beneficial treatment under the tax code right now.

The benefits paid out would also need to be adjusted to allow those who did contribute massively to the SS fund to receive something more than pennies back. The benefit payments don't need to be a windfall, but shouldn't be reduced to a mere pittance, either.

Letting Trump do anything to Social Security would be an absolute disaster. I for one don't really desire a future of eating dog food.

[SergeStorms]

65. Sounds like a great idea.

That's a plan everyone could live with, even the wealthy. They always get to the trough first for tax cuts, it's about time they found out what getting the scraps feels like.

[dchill]

70. +1,000,000!

[Doremus]

84. Fantastic idea, which of course means it'll never be implemented.

Do I sound bitter? Well I am.

[bronxiteforever]

2. Kick and recommend for visibility

[Jarqui]

3. Right. Trump vetoes the only bill that sustains his economy and campaign

on life support.

He's stupid but not that stupid.

[RKP5637]

14. Not so sure. He's pretty damn stupid, like really stupid to infinity! n/t

[olegramps]

20. Can I add that unfortunately the demise of pensions will be devastating.

I am thankful that I enjoy a pension that along with my social security provides me with a livable steady income. Not great but far better than I would be without it. People have been sold a bill of goods when they swapped their pensions for 401s. Some may be bettr off, but I don't think it is the answer for most.

[Lonestarblue]

29. Trump is giving a last big gift to his corporate billionaire buddies in case he lloses.

This does nothing for the worker who isn’t even on a payroll right now, and those are the people needing help not those who are working.

[Cha]

64. That's what I brought up.. it's a big F BLUFF from BLOATUS

[uponit7771]

77. +1,

[kimbutgar]

4. Biden, the Lincoln Project & Meidastouch need to get on this immediately

All those old fox watching mf45 supporters need to know their social security is in jeopardy.

[Mike 03]

11. THIS

Threatened cuts to Social Security should be front and center in our unified attack against Trump.

If there was ever a loser issue for Trump, it's his rabid obsession with cutting SS.

[Stuart G]

40. ..I like your words, "Loser Issue." Thank You for posting those words...

[RKP5637]

16. Had an old guy tell me the other day he's ready to die to save the country

... to vote for Trump to stop socialism, save the country and then die. Covid-19 is of no concern, somehow dying from it is good for Trump and the country.

[localroger]

24. That koolaid, it is very delicious /nt

[kimbutgar]

49. I'd tell him enjoy trying to get your last breath on a ventilator for your cult leader mf45 !

[RKP5637]

51. Probably will be blaming it on Hillary's emails. Idiots ... n/t

[cyndensco]

42. The Lincoln Project may choose to sidestep this one....

Most of the participants would probably be fine with Social Security cuts, right?

[AlexSFCA]

44. you're right. LP is a group of fiscal conservatives

[JHB]

50. Right, but they're also attack dogs who go for the jugular

Maybe they'll skip this, but then again maybe they'll use it and pivot back to their home-base once Donnie's no longer an issue.

[ooky]

83. Then we should run our own ads on it.

Too many people in the general public don't even know that the payroll tax funds social security.

[Jose Garcia]

46. Biden would look lika a hypocrite if he did that

He never spoke out when Obama cut payroll taxes.

[Mariana]

56. They will never believe that.

They know perfectly well that their benefits are safe. Any cuts in benefits will only affect future recipients, and they don't give a fuck about that.

[dajoki]

78. The LP members...

would just love that, don't forget they are repubs, who have been working toward destroying The New Deal their entire careers.

[brush]

5. Wonder who put that in his head? His addled brain sure didn't come up with that.

Might have even been Moscow Mitch.

[erronis]

26. Another boyfriend from Moscow, I betcha.

Same one who got him elected.

Same one who wants to see the USofA destroyed (KGB payback time.)

Not sure what Moscow/Beijing Mitch's line is, but it's obviously destructive.

[JHB]

53. Remember, conservative ideologues who provide funding or who lobby out of the limelight...

...are OK with Trump as long as he advances their agenda. Judges are one example, wrecking the federal bureaucracy is another.

Sinking Social Security has been one of their big goals since its inception. When the election was decided in Trump's favor, both Newt Gingrich and Paul Ryan were publicly chortling at the prospect of "finally sweeping away the last remnants of the New Deal."

This is an "as long as he can hold a pen and sign what we put in front of him, we're okay with him" item.

[imanamerican63]

6. Yep, that's how he rolls!

Cut SS the elderly just to make the rich buddies of his richer!

[Brainfodder]

7. The daily gaslighting for today?

[Hoyt]

8. Think there are better relief measures; but, Obama pushed a payroll tax cut too.

Before we go drawing a meaningless line in the sand, that keeps needy people at mercy of Congress, I’d wait and see what else is in the relief legislation.

[RT Atlanta]

9. then shut it down

donnie-t clearly is fantasizing about having folks in the streets and this may be what it takes (peaceful mass protests like Dr. King envisioned with his Poor Peoples' Campaign) to apply the pressure.

[dalton99a]

10. Kick

[ProudMNDemocrat]

12. Those who vote Republican, vote AGAINST their best interests...

No wonder Trump is losing Seniors . His non-senior base are too stupid to realize that they are shooting themselves in the ass by their votes.

[RKP5637]

18. Most tRump voters can't think for themselves, they just follow tRump orders like Jim Jones. n/t

[LW1977]

25. Except for the rich ones..

It’s the illiterate rednecks who somehow think they’ll get trickled down upon any day now, while waiting in their trailer the last 30-40 years.

[Mariana]

58. The majority of seniors sure got suckered in 2016.

Trump could not have won, if he hadn't got most of the seniors' votes.

[sprinkleeninow]

13. We paid in for 50 years and now I want my dammm benefits to continue as expected!!!

[RANDYWILDMAN]

15. Any excuse to cut

a social safety net, while people are already suffering.....................FFS

[JCMach1]

17. Check the news... Trump will not win this battle

With a 37% drop in the economy

[Bernardo de La Paz]

19. Let him veto it. It will just sink him & McCONnell. So let the turtle talk orange man out of it. nt

[Thekaspervote]

31. This!

[Wounded Bear]

21. He just keeps working that Senior vote, doesn't he...

[ashredux]

22. Killing SS has been a Wet Dream of the GOP for decades

[mnmoderatedem]

23. oh call that bluff without hesitation

no one is going to accept him holding SS hostage given the COVID situation, when the majority of the country already give him low marks on COVID.

[ouija]

27. Then veto it and good luck with those optics

[former9thward]

28. This is not a cut to Social Security.

Just as when Obama did the exact same thing in 2010 it was not a cut to SS. SS will not get cut by this action.

[sprinkleeninow]

32. My understanding is that the current workforce is funding SS recipients of today.

Just as we funded future benefit recipients while we were employed.

If they cut SS withholding taxes that current employees are paying, that could reduce the benefits of those who are receiving them now?

[subterranean]

39. The shortfall from Obama's payroll tax cut was replaced from the General Fund.

So there was no change in the amount of money that went to Social Security. I'm not sure if that would be the case now.

Regardless, it's a bad idea because it would do little to stimulate consumer demand in the current conditions, and would do nothing to help those who have lost their jobs.

[former9thward]

48. Whether it is a good idea or not for the economy is one thing.

But it does not cut SS.

[former9thward]

47. No.

That would take an law being passed by Congress and signed by whoever is president at the time. It is not going happen.

[Hoyt]

33. Good luck posting the truth.

[Thekaspervote]

30. Similar posted here yesterday, source saying there was no senate support for such- Dems or gop

[GeorgiaPeanut]

34. There goes the senior vote and the struggling/unemployed vote in one shot

Furthermore, the damage is done. Even if he backs down, people won't take a chance.

A SS reduction bill will never pass the house.

[Mariana]

59. The OP isn't being honest about what is being proposed.

The seniors' benefits are not at any risk, and they know it.

[GeorgiaPeanut]

71. Current FICA withholdings support SS payments

Newt Gingrich had outlined a 2 step plan before. First reduce the FICA and then claim there isn't money so reduce the benefits.

[Kashkakat v.2.0]

81. Not dishonest at all. The FUNDING MECHANISM for ss is at risk. The benefits

would not be cut - not right now, but it WOULD happen at some point as the funds dry up

The cons are playing what's called a "long con." It doesnt happen all at once.

[DallasNE]

35. Who Benefits?

Half would go to corporations and the other hal to employees with the higher paid workers getting the most.

But where the need is greatest is with those that lost their job and those with high medical costs from the disease. They would get nothing. Evictions are coming soon, right as cold weather sets in. That is a ticking time bomb. Trump says get used to it.

[bonniebgood]

36. Anything to get Mary Trump off the headlines. nt

[BadgerMom]

37. Thank god we have the House.

Also, if this couldn’t pass with a veto-proof majority, Dems WILL win the Senate. Keep pissin’ off your voting blocks, dumbass.

[BlueIdaho]

38. Does he know this is an election year?

It’s more like Hitler in the bunker insanity now.

[LymphocyteLover]

41. Are you fucking KIDDING ME????

[Cicada]

45. Cuts payroll tax, not clear benefits would be cut in the future

Take home pay increases, and then less money in the trust fund may be used to justify cuts. But I doubt older voters will permit benefit cuts. My problem is that helping those already working seems odd. I think the money should go to those most in need.

[Mariana]

60. There aren't any cuts in benefits being proposed. nt.

[RKP5637]

52. I am so fucken fed up with this asshole Trump. Go to hell, Trump! n/t

[Blasphemer]

54. He's got zero leverage. Call his bluff indeed! nt

[TexasBushwhacker]

61. Even Mnuchin doesn't want a payroll tax cut

He wants another round of stimulus checks. Larry Kudlow is the one pushing for the payroll tax cut, which just puts pennies in your pocket twice a month.

[Martin Eden]

62. Tax cuts for the rich, and defund Social Security

Massive transfer of wealth to the oligarchy from working Americans who've been paying for their earned SS benefits all their lives.

Class warfare has been waged by the the rich against the rest of us at least since Reagan, and they've been winning.

[Cha]

63. there goes your ECONOMY TRESONOUS trump&BEANS.. Go Sell Those..

[warmfeet]

66. He is not trying to get reelected.

He is trying to get martyred.

In reality, he will wind up on the bottom of the ash heap of history.

A dimwit, dickwad that people use as a punchline to bad jokes in the future.

Here's to dimwit donny ................

Please remember to flush this November 3rd. Oh, and please wash your hands for at least 20 seconds afterward (not in the toilet bowl, I shouldn't even have to mention that).

[Fla Dem]

67. Whoa, way to alienate the senior crowd, probably your largest voting block.

[Mariana]

68. The senior crowd know that what the OP posted is not true. nt.

[Fla Dem]

69. Are you saying that factually what the OP states is categorically untrue?

Or that seniors “believe” that Trump would never do anything that would cut Social Security and Medicare?

I’m confused by your remark.
Thanks,

[Poiuyt]

72. Trump had said previously that he wouldn't cut Medicare and SS until after the election

[SiliconValley_Dem]

73. well fuck him. old people vote

[Squidly]

74. Lets just say he did get his cuts

But when we control the house and the senate, whos to say we cant just come up with and pass something much better?

[BlueJac]

75. Trump shove it up your ass!

I can't wait till the day they drag you out of the White House, you fucking loser!

[struggle4progress]

76. You ain't talkin to me

[StarzGuy]

79. SonsofBeeches

It's never ending repukes wanting to screw those of us depending on our retirement benefits, note, I said benefits paid for with our wown blood sweat and yes tears, out of any assembly of acceptable retirement years without having to worry about finances. Even now, I struggle every day just trying to put food on my table.

We have earned our retirement benefits though jobs held and paying into those benefits. These ARE NOT so called "entitlements" as all repukes like to tag on our benefits.

I can only hope that we don't see a retake of the 2016 election. We can not take anything for granted. Please, those of you who voted for a third candidate or just didn't vote in 2016, vote for Biden. Yes, perhaps he isn't my candidate (I wanted Warren) but I will be voting for Joe. He will have a fantastic set of highly qualified staff to help him and all of us to restore a sense of decency and get us back on track as a leader for planet Earth.

I also can't stop until I speak to my fellow democrats about science and space. We need to become a space faring species. As an astronomer I hope the new administration will not only support space science but increase funding for NASA and our great research universities.

Thanks for reading my post!
John

[reACTIONary]

80. l'm not for it, but...

A payroll tax cut is not "cutting social security". Social security benefits remain the same.

The deficit will increase. Cutting payroll taxes is a form of deficit spending that puts the money directly into into the hands of wage earning workers.

.... but I'm not against it either.

[PatrickforO]

82. Acknowledged and done. I'll also call them all on Monday.

This can't stand. It will hurt too many people.