Quote:
Originally Posted by Stuholden
For years our government has been unable to address the future shortfall in Social Security funding.
Now the payroll tax is being suspended and President Trump has said if re-elected he will kill this tax; without alternative funding the Social Security Trust Fund will exhaust in 3-4 years.
Am I the only one concerned about the future of my social security checks?
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I think you will find that the current retired beneficiaries of the SS system will be funded by the general treasury. If you want to reduce taxes on individuals earning very little eliminating the payroll tax will be by far the most beneficial. So this would be a tax cut for the "poor". If the treasury needs to raise more money to pay the SS benefits, and it probably will, then the tax is going to have to come from higher earning individuals.