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Trump's plan to end taxes on Social Security income is a 'fatal mistake,' lawmaker says. What that could mean for benefits
Tags: Current Focus, Early Warning, United States, Banks / Insurance, Healthcare, Pharmaceutical, Capital Markets, The Economy, Inequality / Upward Mobility, Movement for Renewal of America, Health, Mental Health, Education, 2. Cost of Living Action, 3. Income and Wages Fairness, 8. U.S. Investment by Government+ Private, 9. The Movement for Global Literacy, 10. Health- Body/Mind Wellbeing for All ,
Hear this America- Trumps call to end tax on social security benefits is a HUGE MISTAKE. It will result in seniors getting an average of about $560 now in exchange for a cut in social security by 25% in 2033 only 9 years from now, and Medicare insolvency 6 years from now. The insolvency dates and cuts are estimates of the Committee for a Responsible Federal Budget.
Senator Larson says Trump's plan to end tax on social security benefits is "a fatal mistake," because it does not make up for the lost revenue.The Committee for Responsible Federal Budget, bipartisan budget evaluation says it will bring forward by 6 years Medicare insolvency from 2037 to 2031 just 6 years from now, and advance Social Security Fund insolvency by 1 year from 2034 to 2033. It will lead to a cut in Social Security benefits of 25% in 2033 which would have dangerous and tragic consequences for seniors in America pushing many into poverty.
Trump plan to end tax on Social Security benefits is a fatal mistake
08/17/2024
Senator Larson says it is a fatal mistake as lost revenue is not made up leading to a Medicare insolvency in 2031, and Social Security insolvency in 2033. Social security benefits will then by law will be cut in 2033 by 25%, a dangerous step tragic for many on Social Security who are pushed into poverty.
Grouped Articles
CNBC 08/17/2024
Committee for a Responsible Federal Budget 08/17/2024
Trump wants to cut income taxes on Social Security. Here's how that would impact your benefits.
CBS News 08/17/2024
Why Trump plan to end tax on Social Security benefits is a fatal mistake
08/17/2024
Senator Larson says it is a fatal mistake as lost revenue is not made up leading to a Medicare insolvency in 2031, and Social Security insolvency in 2033. Social security benefits will then by law will be cut in 2033 by 25%., a dangerous step tragic for many on Social Security who are pushed into poverty.
Linked Articles
CNBC 08/17/2024
Committee for a Responsible Federal Budget 08/17/2024
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