Community View | Time to fight to save Social Security
President Trump issued an executive order to defer the 6.2% tax employees pay toward Social Security from Sept. 1 until Dec. 31. This means in 2021 we could be paying our 6.2% plus repaying the few months of break we get now.
Critics worry that would lead to sweeping changes for Social Security, which is funded through those taxes, and reduced benefits for everyone.
Trump's payroll tax cut, if made permanent, which he says he will do if re-elected, would make that happen even quicker, as soon as 2023, said Nancy Altman, president of Social Security Works, an advocacy organization.
Meanwhile, the Trump administration is arguing that the payroll tax cut would not affect the program's funding. (Not true!)
“There would be an automatic contribution from the general fund to those trust funds," Treasury Secretary Steven Mnuchin said in an interview on Sunday. "The president in no way wants to harm those trust funds, so they would be reimbursed, just as they've always been in the past when we've done these types of things." (Not true!)
Remember when Reagan began “borrowing” from Social Security ($2.9 trillion to date) in the 1980s money that has never been paid back?
It is time for us all - Independent, Republican, Democrat - to stand up to protect this most vital program and stop the attack from moving to Medicare. Wake up America. We’re being destroyed from within!
(Danny Baker is a resident of Kingman.)
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