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Trump attacks Social Security


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It comes as no surprise to those of us on the left, that Trump's promise to preserve Social Security hasn't even survived for 90 days.  Now Mick Mulvaney, Trump's Budget Director and billionaire Treasury Secretary Steve Mnuchin are readying a proposal to eliminate the Payroll Tax, which is the dedicated funding that has kept SS from missing a single payment to beneficiaries  for the past 80 years.  This would mean that Social Security would then be funded from General Revenues and would therefore be subject to the budget appropriations process each year which would inevitably result in a reduction of benefits.  The immediate beneficiaries would be employers, such as the billionaire Koch Brothers, who would no longer have to pay their share of the payroll tax, which amounts to  6.2% of payrolls up to the cutoff level.  We could see this step coming when Trump appointed Mulvaney as his Budget Director, a man who has been committed to destroying SS for years and a champion of the effort to shutdown the government in 2015 over funding for Planned Parenthood.

 

So, this is a heads-up especially for those naive Trump supporters who trusted his promise not to steal their Social Security benefits.  Time to start looking at alternate retirement funding methods from Walmart greeter to drug mule.

 

I am looking at you, Gary A.

 

http://www.latimes.com/business/hiltzik/la-fi-hiltzik-social-security-tax-20170410-story.html

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1 minute ago, Jingthing said:

Horrifying ... but can it pass the senate? It's known that Ryan in the house is dedicated to destroying all FDR era new deal era programs. I'm assuming this has to be passed legislatively, right? 

I believe it would have to pass both the House and the Senate.  The Dems wouldn't be able to stop it in the House.  In the Senate legislation is still subject to the filibuster, but then the Repubs could just pass a rule change eliminating the filibuster just like they did for Gorsuch's nomination.

 

Such legislation might well not pass because of the moderate Republicans' fear of voter backlash, but the Republicans have been trying to destroy SS for 80 years.  Like the Arabs attacking Israel, they only have to win once.  They have never had a chance as good as the one they have now: all three branches.

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