Trump’s Repeal Of Social Security Benefits Taxes Will Speed Insolvency

Former president Donald Trump’s plan to repeal the tax on Social Security benefits would lower taxes for US households by an average of $550, according to a new analysis by the Tax Policy Center. But that tax cut would come with a big price: By reducing Social Security and Medicare hospital insurance (HI) revenues by $1.5 trillion over the next decade, Trump would drive both programs into insolvency faster, resulting in sharply reduced benefits for tens of millions of recipients.

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