President Donald Trump's mass deportation plans could have a significant economic side effect: draining Social Security funding.
The Democratic National Committee ( DNC) is going on the offense against President Donald Trump just two days into his second term, blasting the 45th and 47th President over what they say is a plan to follow through on the controversial Project 2025 agenda, including by cutting Social Security, Medicare and Medicaid.
Francois Melese warned in a recent op-ed of the damaging effects of Trump's plan to end Social Security taxes.
In 1983, when Social Security's asset reserves were running dangerously low, Congress passed and then-President Ronald Reagan signed the Social Security Amendments of 1983 into law. In addition to gradually increasing the payroll tax on earned income, as well as the full retirement age, it introduced the now-hated taxation of benefits.
In a social media post, Donald Trump said seniors shouldn't pay any taxes on Social Security. He was referring to the Social Security benefit taxes that seniors owe if their incomes exceed certain thresholds.
President Donald Trump notably called for a ban of TikTok during his first term due to national security concerns.
President-elect Donald Trump has made a bold promise to eliminate federal taxes on Social Security benefits. For millions of retirees, it’s an enticing idea, conjuring visions of bigger monthly checks and greater financial freedom.
President Donald Trump signed an executive order on artificial intelligence Thursday that will revoke past government policies his order says “act as barriers to American AI innovation.”
The big problem with Trump's proposal to eliminate Social Security's income taxes on benefits is that those taxes are one of just three critical funding sources for the program. The other two are the payroll taxes that workers pay and the interest income on the program's trust funds.
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A guide to the Week One distractions, late-night devilry, executive overreach, and the Administration’s early infighting.