President Trump has promised that if re-elected, he will permanently eliminate the payroll tax. This is the 6.2% Social Security and 1.45% Medicare tax that is taken out of your paycheck and matched by your employer. If this happens, Social Security will be out of money on hand in one year.
By the summer of 2023, there will be no money left in the trust fund to pay retirement benefits, SS disability and survival benefits. If you die, there will be no safety net to help your surviving spouse to provide for your children. If you become disabled, you can get welfare, but at an income level that is much lower than disability for most, and your eligibility will be impacted by the incomes of anyone in your household.
Young people may be able to securely plan their retirement, but for those at or near retirement age, this is a disaster.
This is no time to get your news from social media or a friend's opinion. This is the time to research and go to credible sources to understand how this will affect you, your parents, grandparents, spouse and children.
Educate yourself on the facts and ignore the propaganda of those making money by getting people to share false information on social media. Whether Democrat, Republican or independent, let your senators and representatives know you don’t support permanently defunding Social Security and Medicare.
This is a huge gift to big business, (they pay half) and a disaster for everyone else in America.
Melinda Jones, Minneapolis