Embed Notice

According to new reporting from Reuters,
👉Donald Trump is contemplating slashing Social Security’s dedicated funding, colloquially known as the payroll tax.

The following is a statement from Nancy Altman, President of Social Security Works:
 
“Donald Trump recently received pushback when he said that
‘there is a lot you can do’ to cut Social Security. .

So he is dusting off the old Republican playbook and bringing back the strategy known informally as ‘Starve the Beast.’

In this case, Social Security is the beast.
 
Social Security can only pay benefits if it has sufficient dedicated revenue to pay its costs.

That is why it doesn’t contribute even a penny to the deficit.

If Trump succeeds in slashing that dedicated revenue so that it is no longer sufficient to fully cover the cost, it will result in an automatic benefit reduction.

This would happen without any Republicans having to vote for the cuts, or Trump having to sign them into law.

https://socialsecurityworks.org/2024/04/18/donald-trump-plans-to-starve-social-security/