Campaign promises that shouldn’t be made

All politicians make promises to gain favor with voters. In this case the large voting group of seniors.

The proposal indicates a lack of understanding of the topic. You can’t just suggest eliminating a tax that is important to funding two major programs without some alternatives that people should be asking about.

Former President Donald Trump suggested eliminating the partial income taxation of Social Security benefits, which currently helps fund the Social Security and Medicare Hospital Insurance (HI) trust funds. Without a replacement source of revenue, we estimate repealing taxation of benefits for seniors would:

  • Increase deficits by $1.6 trillion to $1.8 trillion through 2035
  • Increase Social Security’s 75-year shortfall by 25 percent – or 0.9 percent of payroll
  • Nearly triple the Medicare HI 75-year shortfall, increasing it by 0.6 percent of payroll
  • Advance the insolvency date of Social Security’s retirement trust fund by over one year
  • Advance the insolvency date of the Medicare HI trust fund by six years

In a post on Truth Social , President Trump declared that “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!”

President Trump is likely referring to the fact that some Social Security benefits are currently taxed as ordinary income and have been since 1984.

Source: Committee for a Responsible Federal Budget

Focus on fixing what is broken first‼️

One plan to fund this would merely shift the cost to working Americans by gradually eliminating the cap on wages subject to SS payroll tax.

But we still haven’t fixed the solvency problem of the Social Security trust.

5 comments

  1. Maybe some taxpayers should stop requesting the government stop spending our tax dollars and ALL of our politicians might just stop the pandering.

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  2. The simple fact is that the taxation of benefits should have been inflation adjusted when it was instituted. That is fair and good policy. It should be corrected at this late date without consideration of tax receipts. Trump is right or at least mostly right on this issue.

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  3. One of the long term goals of Trump and MAGA is to make social security insolvent so they can slash it and privatize it.

    “Project 2025’s 900-page Mandate for Leadership fails to propose any solutions for Social Security and says, on page 710, that its proposals for the program could not be “covered here in depth.” Notably, that line was co-authored by economist Stephen Moore, who has advocated to slash and privatize Social Security, once calling it a “Ponzi scheme” and encouraging students to burn their Social Security cards.”

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