Social Security Would Become Bankrupt Sooner Under Trump’s Plans, Report Finds

[Lakhota]

TRUMP SOCIAL SECURITY SCARE
​

 

[wamose]

Old, disproven fake news.

 

[Marener]

the sooner it goes under the quicker we can get rid of it,,

And why isn’t Trump telling people that he is trying to get rid of social security?

 

[Marener]

Old, disproven fake news.

Huh? Who disproved it and how?

 

[progressive hunter]

And why isn’t Trump telling people that he is trying to get rid of social security?

what malfunction in your brain causes you to ask people why somebody they dont talk too does something??

 

[Lakhota]

 

[sparky]

the propaganda is escalating ~S~

 

[EvilEyeFleegle]

the propaganda is escalating ~S~

Every time Trump opens his mouth~

 

[Freedomisneverfree]

Another LIE! SS has enough to last until 2035. It was also designed that way because of the Baby Boomers, who would turn 65 and by then they will be working on funding more years ahead.

 

[EvilEyeFleegle]

Another LIE! SS has enough to last until 2035. It was also designed that way because of the Baby Boomers, who would turn 65 and by then they will be working on funding more years ahead.

Yup..enough to last until 2035..UNLESS..Trump's ideas come to fruition....then it becomes 2031-2032...knocking 3 years off of the fund's viability.

 

[task0778]

Somebody correct me if I'm wrong, but what's wrong with taxing SS benefits for people earning about the poverty level or whatever income level you want to stipulate? A lot of rich people get a monthly SS benefit right? Should that be done, or should the benefit be only for those in need? Should the gov't recoup the money paid out to those who don't need it? Constitutionally, maybe you gotta pay out to everybody who paid in, I get that. But maybe the gov't should get it back in taxes if there's no legal way to deny benefits to rich people in the 1st place.

 

[Concerned American]

Somebody correct me if I'm wrong, but what's wrong with taxing SS benefits for people earning about the poverty level or whatever income level you want to stipulate? A lot of rich people get a monthly SS benefit right? Should that be done, or should the benefit be only for those in need? Should the gov't recoup the money paid out to those who don't need it? Constitutionally, maybe you gotta pay out to everybody who paid in, I get that. But maybe the gov't should get it back in taxes if there's no legal way to deny benefits to rich people in the 1st place.

Except for the fact that you already paid taxes on those earnings.

 

[AzogtheDefiler]

Social Security is already on life-support.
Trump's ideas..his free-flowing promises to his faithful--would cause the fund to become bankrupt in 6 years.
The irony is, of course, that millions of Trump supporters are ON Social Security..either retirement or SSI/SSD.
Let the good times roll~

Social Security Would Become Bankrupt Sooner Under Trump’s Plans, Report Finds

The analysis factored in Trump’s plans to eliminate taxes on Social Security benefits, tips and overtime, his immigration proposals and his promise to impose steep tariffs.

www.forbes.com

Former President Donald Trump’s promise not to tax Social Security benefits, tips or overtime, along with his pledges to impose steep tariffs and expand deportations, would “dramatically worsen Social Security’s finances,” the Committee for a Responsible Federal Budget said Monday—the latest analysis of Trump’s plans to conclude they’d have a negative impact on the economy.

Under Trump’s plans, Social Security’s ten-year cash shortfall would increase by $2.3 trillion, and Social Security trust funds would run out of money three years earlier, by fiscal year 2031, compared to existing estimates, the nonpartisan public policy organization reported.

Trump’s proposal to end taxation of Social Security benefits would increase the cash deficit by about $950 billion by fiscal year 2035, while his proposal to end taxes on overtime and tips would add $900 billion, and restrictions on immigration, coupled with his tariff policies, would grow the deficit by $400 billion.


Harris has echoed Trump’s promise to eliminate taxes on tips and vowed not to raise taxes for people earning less than $400,000, though the committee did not address Harris’ plans in its report on how Trump’s policies would impact Social Security.

Under current law, which limits Social Security spending to the amount it receives in tax revenue, benefits would be cut by 23% by 2035, but under Trump’s plans, they would have to be cut by about 33%.

The cuts would have the most impact the lowest income earners who already don’t pay taxes on benefits, while the cuts to higher earners would be offset somewhat by an increase in average after-tax benefits.

The report is the latest to show that some of Trump’s proposals would hurt the economy, including a Wall Street Journal survey released last week that found 68% of 50 economists surveyed said inflation would be higher under Trump’s economic plans than Harris’.

We ll just print more. These biased people hate Trump so they publish stupid theories

 

[task0778]

I think the truth is that neither nominee or their political party has any interest in fixing our debt and deficit problem, mostly because most of the voters don't care either. Trump wants to cut taxes while Harris wants to spend more money, and both policies will contribute to the problem. It's not just SSA, it's the entire mindset for apparently most of the country when it comes to fiscal matters. I'm not sure if the exact date when SSA runs out of IOUs really matters, 6 years, 10, 12, so what? By current law when that date arrives congressional legislation will be required or else SSA recipients will begin to receive approx 70-75% of what they get now. Unless of course something is done sooner, but that crisis is not yet upon us and so IMHO the gov't won't do anything no matter who the president is.

UNLESS - one party gains control of the House and Senate and the White House. Don't scoff, this is a big deal: that party could abolish the Senate filibuster and do whatever they want with only 51 votes. We came really close to that in 2021 when the democrats could have done just that except that Manchin and Sinema wouldn't go along. Some say that would be a good thing, no more gridlock. Well, newsflash: doing something really stupid is worse than doing nothing.

 

[Concerned American]

I think the truth is that neither nominee or their political party has any interest in fixing our debt and deficit problem, mostly because most of the voters don't care either.

All you have to do is look at the consumer debt numbers in this country and it verifies your point. People are not concerned with fiscal responsibility anymore. Instant gratification.

 

[EvilEyeFleegle]

All you have to do is look at the consumer debt numbers in this country and it verifies your point. People are not concerned with fiscal responsibility anymore. Instant gratification.

An attitude that has been encouraged, malice aforethought, by just about everyone--as the media is designed to spread cultural imperatives designed sell people on an apparent affluent lifestyle that absolutely requires debt to maintain, for the bulk of the country. We, as a nation, eat it up...with most people carrying far more debt than they are EVER going to pay.
Why should our Govt. not reflect our lack of concern?

While the 1% skims the cream from the the top--and care not for the inevitable crashes and booms...because either way, THEY win~

 

[Concerned American]

An attitude that has been encouraged, malice aforethought, by just about everyone--as the media is designed to spread cultural imperatives designed sell people on an apparent affluent lifestyle that absolutely requires debt to maintain, for the bulk of the country.

I guess that happens when people relegate the raising of their children to the media. It takes a village, eh? BS. If parents raised their children to understand that bills come due and they have to be paid instead of the government telling them that their debts can be forgiven, things would be different. I was raised by the generation that suffered the great depression and knew the dangers of debt. No one can be truly free if they are in debt.

 

[Frankeneinstein]

Social Security is already on life-support.
Trump's ideas..his free-flowing promises to his faithful--would cause the fund to become bankrupt in 6 years.
The irony is, of course, that millions of Trump supporters are ON Social Security..either retirement or SSI/SSD.
Let the good times roll~

Social Security Would Become Bankrupt Sooner Under Trump’s Plans, Report Finds

The analysis factored in Trump’s plans to eliminate taxes on Social Security benefits, tips and overtime, his immigration proposals and his promise to impose steep tariffs.

www.forbes.com

Former President Donald Trump’s promise not to tax Social Security benefits, tips or overtime, along with his pledges to impose steep tariffs and expand deportations, would “dramatically worsen Social Security’s finances,” the Committee for a Responsible Federal Budget said Monday—the latest analysis of Trump’s plans to conclude they’d have a negative impact on the economy.

Under Trump’s plans, Social Security’s ten-year cash shortfall would increase by $2.3 trillion, and Social Security trust funds would run out of money three years earlier, by fiscal year 2031, compared to existing estimates, the nonpartisan public policy organization reported.

Trump’s proposal to end taxation of Social Security benefits would increase the cash deficit by about $950 billion by fiscal year 2035, while his proposal to end taxes on overtime and tips would add $900 billion, and restrictions on immigration, coupled with his tariff policies, would grow the deficit by $400 billion.


Harris has echoed Trump’s promise to eliminate taxes on tips and vowed not to raise taxes for people earning less than $400,000, though the committee did not address Harris’ plans in its report on how Trump’s policies would impact Social Security.

Under current law, which limits Social Security spending to the amount it receives in tax revenue, benefits would be cut by 23% by 2035, but under Trump’s plans, they would have to be cut by about 33%.

The cuts would have the most impact the lowest income earners who already don’t pay taxes on benefits, while the cuts to higher earners would be offset somewhat by an increase in average after-tax benefits.

The report is the latest to show that some of Trump’s proposals would hurt the economy, including a Wall Street Journal survey released last week that found 68% of 50 economists surveyed said inflation would be higher under Trump’s economic plans than Harris’.

Finally! a report that doesn't blame climate change for the impending catastrophe/apocalypse/Armageddon...it's like a breath of fresh air...hey, what's the update on that J6 documentary ya heard so many good things about? are they putting in some overtime on it? or just polishing it up before rolling it out to a ticker tape parade through the "canyon of heroes"?

 

[Cellblock2429]

Social Security is already on life-support.
Trump's ideas..his free-flowing promises to his faithful--would cause the fund to become bankrupt in 6 years.
The irony is, of course, that millions of Trump supporters are ON Social Security..either retirement or SSI/SSD.
Let the good times roll~

Social Security Would Become Bankrupt Sooner Under Trump’s Plans, Report Finds

The analysis factored in Trump’s plans to eliminate taxes on Social Security benefits, tips and overtime, his immigration proposals and his promise to impose steep tariffs.

www.forbes.com

Former President Donald Trump’s promise not to tax Social Security benefits, tips or overtime, along with his pledges to impose steep tariffs and expand deportations, would “dramatically worsen Social Security’s finances,” the Committee for a Responsible Federal Budget said Monday—the latest analysis of Trump’s plans to conclude they’d have a negative impact on the economy.

Under Trump’s plans, Social Security’s ten-year cash shortfall would increase by $2.3 trillion, and Social Security trust funds would run out of money three years earlier, by fiscal year 2031, compared to existing estimates, the nonpartisan public policy organization reported.

Trump’s proposal to end taxation of Social Security benefits would increase the cash deficit by about $950 billion by fiscal year 2035, while his proposal to end taxes on overtime and tips would add $900 billion, and restrictions on immigration, coupled with his tariff policies, would grow the deficit by $400 billion.


Harris has echoed Trump’s promise to eliminate taxes on tips and vowed not to raise taxes for people earning less than $400,000, though the committee did not address Harris’ plans in its report on how Trump’s policies would impact Social Security.

Under current law, which limits Social Security spending to the amount it receives in tax revenue, benefits would be cut by 23% by 2035, but under Trump’s plans, they would have to be cut by about 33%.

The cuts would have the most impact the lowest income earners who already don’t pay taxes on benefits, while the cuts to higher earners would be offset somewhat by an increase in average after-tax benefits.

The report is the latest to show that some of Trump’s proposals would hurt the economy, including a Wall Street Journal survey released last week that found 68% of 50 economists surveyed said inflation would be higher under Trump’s economic plans than Harris’.

/—-/ Looks like Trump will have to deny SS to illegals to save it.