TRUMP'S PLAN WOULD CUT SOCIAL SECURITY BENEFITS BY 33%

[applegrove]

TRUMP’S PLAN WOULD CUT SOCIAL SECURITY BENEFITS BY 33%

JASON EASLEY DONALD TRUMP, FEATURED NEWS MON, OCT 21ST, 2024

https://www.politicususa.com/2024/10/21/trumps-plan-would-cut-social-security-benefits-by-33.html

"SNIP............

A new study by the non-partisan Committee for a Responsible Federal Budget found that Donald Trump’s plans for Social Security would drive the program toward insolvency and cut benefits by 33%.

According to the CRFB:

In fact, we find President Trump’s campaign proposals would dramatically worsen Social Security’s finances.

President Trump’s proposals to eliminate taxation of Social Security benefits, end taxes on tips and overtime, impose tariffs, and expand deportations would all widen Social Security’s cash deficits. Under our central estimate, we find that President Trump’s agenda would:

Increase Social Security’s ten-year cash shortfall by $2.3 trillion through FY 2035.
Advance insolvency by three years, from FY 2034 to FY 2031 – hastening the next President’s insolvency timeline by one-third.
Lead to a 33 percent across-the-board benefit cut in 2035, up from the 23 percent CBO projects under current law.
Increase Social Security’s annual shortfall by roughly 50 percent in FY 2035, from 3.6 to 4 percent of payroll.
Require the equivalent of reducing current law benefits by about one-third or increasing revenue by about one-half to restore 75-year solvency.

..........SNIP"

[Johonny]

1. We must sacrifice anything if only fake billionaires

Get to freeload off our work even easier.

[CousinIT]

2. In 6 years. 4 years earlier than expected

Last edited Mon Oct 21, 2024, 10:50 PM - Edit history (1)

And it will not be "insolvent" as long as worker/employer taxes are still paid in, but everyone on it will have benefits cut about 23%

That will happen anyway unless congress does something to prevent it, but Trump's idiot economic plans will speed it up 3-4 years AND increase the cuts to 30-33%.

Expect Republicans to resist doing anything to stop the cuts and they want to raise retirement age to 70. AND cut, privatize & means test it so they can cut it more if not just abolish it. THAT will also destroy our economy. But Republicans are fucking STUPID on the economy.

[markodochartaigh]

14. "...want to raise retirement age to 70."

It is so ironic that many in the professions who could comfortably work until 70, doctors, attorneys, bankers, etc. retire in their 50's and live very well; while most in difficult jobs who have difficulty physically working in their 50's have to either work until they die, or "retire" on a pittance on which they struggle for the bare necessities.

[CousinIT]

18. The old saying:

Those who want to raise the retirement age to 70 are the same ones who won't hire anyone over 50. . . something like that.

It's true. It's the millionaire/billionaire way to punish those who aren't as wealthy, so they die off. Survival of the fittest, they'd say.

[MichMan]

3. VP Harris needs to come out strong in opposition to this bullshit

President Trump’s proposals to eliminate taxation of Social Security benefits, end taxes on tips and overtime, impose tariffs, and expand deportations would all widen Social Security’s cash deficits

[CousinIT]

19. Absolutely. n/t

[anciano]

4. Hysterical hand wringing hyperbole .....

it's not going to happen. In the first place, his election is very unlikely, and secondly, the sheer volume of the senior vote is enough of a deterrent for such a plan to never make it through Congress.

[applegrove]

5. President Trump's proposals to eliminate taxation of Social Security benefits, end taxes on tips and overtime,

"SNIP........

President Trump’s proposals to eliminate taxation of Social Security benefits, end taxes on tips and overtime, impose tariffs, and expand deportations would all widen Social Security’s cash deficits.

..........SNIP"

Not to mention firefighters, police and the military not paying any taxes like Trump floated.

[CousinIT]

20. All these are backdoor ways to defund Social Security. They have a double-pronged plan...

...

1. Defund Social Security - starve it of funds with tax cuts, then scream it's going "bankrupt" to set the stage for its elimination or privatization.
2. Straight-out cuts, like raising the retirement age, reducing COLAs, and direct cuts to benefits or who can receive them, i.e., making them means-tested and then calling them "welfare" again to set the stage for elimination or privatization.

If they can't get away with #2, they'll do it via #1 and other ways they can find.

Like the ACA, they've been after Social Security & Medicare since their inception -- because the billionaires whom the GOP exclusively represents (and who own them and the highest court in the land via hundreds of dark money groups funneling money to the GOP and the courts thanks to Citizens United) - don't want to pay the taxes on those programs. That's what's driving this. The goddamned billionaires like Musk, Trump and others. Greedy assholes who wish to have the IRS defunded and shut down so they pay no tax (and many of them don't anyway - same with big corporations like Bank of America, Amazon, and others).

Billionaires and corporate greed are largely ignored in the body politic and surrounding discussions—especially by the media, which billionaires and big corporations primarily own—so they're not going to talk about their dirty shenanigans in public. They point at migrants, poor people, seniors, healthcare, and the sickest among us, brown people, etc., as the issue. THEY ARE NOT THE ISSUE. Billionaires and corporate greed are the issues. And because everything and everybody is owned and controlled by the same, it never gets discussed.

[NameAlreadyTaken]

6. It's a sacrifice he is willing to make.

[valleyrogue]

7. JFC. Social Security CAN'T go "insolvent."

That is the biggest g.d. lie the media keep repeating. No federal government program can go "broke." The reason has to do with the simple fact the government can print its own money. The federal government cannot "go broke." Besides, any supposed "shortfall" can be paid out of the general fund, just as SSI is funded.

The right-wing attacks on Social Security and Medicare have nothing to do with "insolvency." It is motivated by not wanting to pay the FICA and Medicare taxes on the part of corporations.

In other words, it is all about greed.

[B.See]

8. I don't believe Trump actually HAS a plan for Social Security

no more than he has "concepts of a plan" for Healthcare. It's just shit he's started saying sometime around the spring of this year after word got out the his MAGA party was out to GUT both Social Security and Medicare.

Just like his FLIP FLOP on abortion being "up to the states" after his lying ass bragged about overturning Roe v Wade.

He's a CON-MAN. Only thing one CAN believe is, 1) he's in it for himself and his filthy rich cronies, 2) he's out for revenge 3) he's an existential threat to democracy, here and throughout the WORLD.

[Stargazer99]

9. Destroying social security is a Republican wet dream-are you suckering for Trumps proposal?

The bait is not taxing tips, etc which would trap those who are not thinking critically

[applegrove]

10. Please explain more.

[MichMan]

12. VP Harris has also said she favors not taxing tips.

https://www.nbcnews.com/politics/2024-election/harris-supports-eliminating-federal-taxes-tips-rcna166124

[DeepWinter]

15. I'm in favor of this as well

If they can loophole minimum wage on Servers to pay them less per hour, then let's cut taxes on wages. Maybe that'll push a real working wage per hour for Servers.

[dalton99a]

11. Spread this far and wide

[newdayneeded]

13. I don't understand why

with all the times he said clearly that "cuts need to looked at" why is there a 30 second commercial running 20 times a day with just a repeating video loop of him on stage saying this.

[Upthevibe]

16. Kick. N/T

[Hotler]

17. No they won't, they'll steal the whole thing. nt

[catrose]

21. NO

[ffr]

22. What a piece of shit! The GOP are nothing more than robber barrens.

Leave people's earned paid into safety net alone!