Senators blast Trump’s plan to force federal workers to be his payroll tax scheme guinea pigs
At issue is, of course, funding to Social Security and Medicare in the interim, but also the problem that this holiday comes to an end next year. Every employee who gets the benefit of not paying the tax for the next several months ends up seeing a larger portion of their paycheck withheld next year, because the full amount has to be paid back by May. That’s a pretty crappy deal. Trump has said that if he’s reelected, he will “terminate” the taxes entirely, so they wouldn’t have to be repaid.
Terminating them entirely is ending the funding stream for Social Security and Medicare. Social Security Disability payments would end next year and Social Security retirement funds would be depleted by 2023, Social Security’s chief actuary told Congress. That’s if there were no intervening plan to save the programs. Trump says he would fund the programs from the general treasury, but at the same time Trump is telling his key staff that addressing the “debt is a big second term priority.”
He has no plan for funding Social Security and Medicare. Just like he has no plan for replacing the Affordable Care Act while he’s arguing before the Supreme Court that the whole law should be struck down. In fact, imposing this scheme on federal employees is Trump’s foot in the door of privatizing Social Security. In fact, as Social Security Works points out, a key architect of former President George W. Bush’s Social Security privatization scheme is gleefully arguing just that.
No wonder Collins is concerned about this one.
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, Daily Kos reports