Donald Trump recently said that if he gets reelected, he would terminate the payroll tax.
There’s just one tiny little problems. It is the payroll tax that funds both Social Security and Medicare.
Today, the chief actuary of the Social Security Administration said that if the payroll tax is terminated and Trump doesn’t find another source of money to fund it, then Social Security benefits could stop by mid-2023. So all of that money that Americans have been putting into Social Security would just go bye-bye, and retirees would be screwed.
Not word yet on what would happen to Medicare.
This is not the first time that Republicans have tried to cut or outright eliminate the social safety net. Anyone who thinks they wouldn’t do it simply isn’t paying attention.