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Trump wants to kill Social Security

Today, Donald Trump signed several executive orders to provide economic relief for the coronavirus pandemic. Let’s ignore the fact that the constitution says that only Congress (and in particular the House) can allocate funds. Instead, Trump is going to redirect money from FEMA’s Disaster Relief Fund (DRF).

Meanwhile, here’s a headline from Fox News: “Most Active Hurricane Season on Record So Far”. They go on to say that even though we are only two months into the 2020 Atlantic Hurricane Season, it is already one of the most active on record, ever. But the DRF has far less money in it than needed for coronavirus relief, so it will be exhausted, leaving absolutely no money for hurricane relief. Oops!

Furthermore, and far worse, Trump directed the Treasury Secretary to defer payroll taxes. At the same time, the White House announced that if Trump is reelected, he plans to terminate the payroll tax permanently.

If you don’t know what payroll taxes do, you might be forgiven for thinking that sounds ok. Payroll taxes pay for Social Security and partly for Medicare. No more payroll tax means no more Social Security. And less money for Medicare, which will eventually kill that too.

Killing Social Security and Medicare is bad enough, but it is actually even worse than that.


One Comment

  1. ebdoug wrote:

    On not having insurance: I have lots of health insurance. I had to laugh at the bills. Dec 18th last year, kidney stone surgery $35,000 was billed to my insurance, which o. Of course, didn’t pay that much. With Medicare and a supplemental plan, my co-pay was $400. January 7th, this year, more kidney stone surgery. $15,000. And another co-pay of $400. Both these surgeries were out patient surgeries. (I had a nice event there. A nearby Inn gave discounts for “visitors” to the nearby hospital) $50 a night. I booked in for two nights. Took a shuttle to the hospital for the surgery. Oh, and on Long Term insurance, New York state gives a huge tax deduction on people paying Long Term insurance who will not become a burden to New York State.

    Sunday, August 9, 2020 at 4:58 am | Permalink

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