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Donald Trump, the man who promised to guard Social Security like it was the Crown Jewels, has apparently decided it’s just costume jewelry in a yard sale. While he’s been busy crowning himself the king of tax breaks—such as the grand idea of ceasing to tax Social Security benefits, which sounds great if you ignore the giant, flaming dumpster of cash that will combust faster than you can say “retirement”—he’s inadvertently channeling the Grim Reaper of entitlements.
His latest escapade, according to the Committee for a Responsible Federal Budget (yes, they exist, and no, they don’t bring the snacks), could see the beloved Social Security trust funds run dry three years earlier than projected—2031, if you’re scoring at home. That’s right folks, the retirement plan for seniors looks more like a house of cards than a solid foundation. Forget about a 30% cut in benefits; it’s almost like a clearance sale at the local thrift store: everything must go!
Marc Goldwein, the senior policy director from the aforementioned watchdog, bundled up his thoughts and said, “This plan is more harmful than giving a toddler a sugar rush at a birthday party.” So, glad we cleared that up. Social Security has been on shaky ground, like a tightrope walker in an earthquake, primarily because America’s population is aging like fine cheese while the working-age contributors are shrinking faster than the last slice of pizza at a party.
Trump’s bright idea to eliminate income taxes on those raking in Social Security benefits? That’s going to cost the program a tidy $950 billion over a decade! The remaining folks (mostly richer people who earn a throne of cash) will see a tax break—because when has pandering to the wealthy ever gone wrong, right?
And for the rest of us struggling to find pocket change in the couch, his magic proposals are like seeing a mirage in the desert: tantalizing yet out of reach. The poorer recipients, who are too busy living paycheck to paycheck, will feel the benefits cut more than those who securely sit atop the financial food chain.
But wait, there’s more! If Trump also waves his wand to eliminate payroll taxes, then yes, everybody wins—except for their future selves when their Social Security checks resemble a scratch-off lottery ticket with the grand prize mysteriously missing. Less money in—less benefit out. It’s the political equivalent of telling workers they should feel grateful for coming to a party where they brought all the snacks.
According to Trump’s team, he’ll not only toss out tax burdens like last week’s leftovers but also “rebuild the greatest economy in history” while somehow simultaneously patching up Social Security as if it’s a crucial quilt for Grandma’s favorite armchair. Spoiler alert: It’s not.
So, what have we learned? When it comes to promises of prosperity in politics, sometimes it’s best to take those assertions with a grain of salt—or perhaps a whole salt shaker—because brimming with optimism and dollar signs doesn’t mean you actually get dinner. It just means you’re on the guest list for an empty buffet.
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