FDR foiled by Trump?

President Trump is at it again with his new tax plan which could dramatically impact your earned benefits and the future of Social Security. That's because it may include a drastic reduction or elimination of the 12.4% payroll tax, which means Social Security would have to find another revenue source! In the long run, this disastrous proposal would cut off vital revenue for Social Security, as workers' contributions fund the program — and ultimately destroy the retirement security of millions of future beneficiaries.

This is just another 'backdoor' attempt to cut Social Security and we believe the American people should know how this plan would undermine the fundamental earned-rights nature of Social Security. Workers pay into this system their entire working lives with the expectation to be able to utilize this sum as a supplement or as their complete retirement funds. Eliminating the payroll tax would make Social Security vulnerable to devastating budget cuts and privatization schemes as the funds used to pay for this program would now have to come out of general revenue. (Something FD Roosevelt would have never approved because he wanted to make sure that politicians could not eradicate this benefit to aging Americans.)

If  President Trump moves forward with this radical scheme it would break a promise he made during the presidential campaign not to touch Social Security!! That's why the National Committee to Preserve Social Security and Medicare is working to ensure every American understands the consequences of this proposal and putting pressure on members of Congress to reject any budget or tax scheme that jeopardizes current and future Social Security benefits and makes them compete with all other federal programs for funding.   www.ncpssm.org    or you can call 1-800-966-1935  for more information

 

 

                                                                                              The Castle Lady