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Fred Klonsky is a retired teacher in Illinois. Retired teachers in that state, like many others, don’t collect Social Security. Politicians of both parties have tried to cut teachers’ retirement benefits. Should he care that Trump wants to defund Social Security?
He concludes that teachers in Illinois are in the same fight with those who face Trump’s stealth effort to defund Social Security.
Trump’s claim is that his executive order would put more money now into workers paychecks.
Put aside for a moment that due to Trump’s leadership there are nearly 40 million newly unemployed workers who no longer receive a paycheck.
And put aside for a moment that the payments to Social Security will have to be made up at a later date.
The payroll tax essentially funds Social Security and Medicare.
Trump’s order will stop nearly $350 billion in payments to Social Security.
If Trump is reelected and a Republican Congress eliminates the payroll tax permanently, as is the plan, it is estimated that the system will be broke by the end of Trump’s second term.
No more Social Security or Medicare.