“This proposal is a Trojan horse. It appears to be a gift in the form of middle-class tax relief, but would, if enacted, lead to the destruction of working Americans’ fundamental economic security.”
Part of President Trump’s tax reform plan is about to explode – it’s the part where he significantly cuts the payroll tax.
Disguised as a way to help out the middle class with what looks like an old-fashioned tax break, its true intention is much more sinister.
You see, the payroll tax is the part of your paycheck that funds the social security program and a good chunk of Medicaid. Michael Hiltzik of the Los Angeles Time says this is nothing but a sneaky, “back-door way of cutting Social Security benefits,” and “It needs to be nipped in the bud.”
Nancy J. Altman is a self-proclaimed “veteran Social Security advocate,” and she had a powerful characterization of this part of Trump’s tax reform plan. “This proposal is a Trojan horse. It appears to be a gift in the form of middle-class tax relief, but would, if enacted, lead to the destruction of working Americans’ fundamental economic security.”
Hiltzik explains the bigger problem:
“If it’s designed as a permanent conversion of Social Security’s revenue stream from the payroll tax to general revenues, that’s a wide-open door to budget-cutting at the expense of retirees and workers. Scrapping the payroll tax would make it easier for Congress to cut Social Security benefits under the guise of saving the government money. And that’s just another way to funnel more money to the rich, at the expense of the working class. And who needs that, other than people who already have enough?”
Folks, NOW is the time to resist! Share this on your own page, and help us make sure Trump doesn’t get away with this con at the expense of America’s middle class!