11 hours Ago
How to eliminate Social Security? Don’t improve it, don’t fund it, and don’t tax it! The Magician in Chief would make Social Security disappear. How? Cut off its funding. How? Don’t tax it! Watch this trick: The President recently told Fox’s Hannity that “Social Security won’t be touched other than if there’s fraud or something.
It’s going to be strengthened, but it won’t be touched.” Then he told Congress “no tax on tips, no tax on overtime, no tax on Social Security for our great seniors.” Don’t touch it, don’t tax it.
Less paid in. Presto! Social Security fades away while you’re not watching. Social Security is an eight decades old, huge, government-run savings account currently funded by workers’ paychecks, 6.
2% from each worker and 6.2% from their employers. Around 180 million American workers pay in, and about 70 million seniors now receive benefits based on their highest earning 35 years.
No Social Security tax on “tips”, “overtime” (definitions, please?) or the employers’ 6.2%, or those highest benefitting SS recipients – all this means less is paid into Social Security. What happens next? The fund shrinks, benefits get cut because nobody improved the system, and Social Security fades away by 2031.
Might Medicare disappear the same way? It’s also paycheck-taxed. And why not eliminate the federal income tax altogether, starting with the highest individual incomes — just like Social Security already does for income over $176K? What a big, beautiful idea! Untax programs out of existence! A genius trick! But then what?.
