Showing posts with label payroll tax. Show all posts
Showing posts with label payroll tax. Show all posts

Wednesday, March 27, 2024

No, Donald Trump, migrants aren’t ‘killing’ Social Security and Medicare - The Washington Post

In 2013, the chief actuary for Social Security estimated that about half of undocumented immigrants used a Social Security number. As a result, undocumented immigrants and their employers paid $13 billion in Social Security taxes in 2010, the actuary said. 

The Center for Immigration Studies, which supports stricter immigration limits and a merit-based immigration system (and is often quoted with favor by Trump), said in a report last year that payments by undocumented immigrants "improves the finances of Social Security and Medicare." …


Friday, August 14, 2020

Column: Trump tax deferral poses a bigger threat to Social Security than you might think - Reuters

"What Trump has shown is that he believes he has the authority and to decide when FICA contributions are due," she said. "One option for him, if he is re-elected, is to say that the pandemic has us in such bad economic straits that he will defer FICA collections until 2024. That would drain the Social Security trust fund to zero in about two years - at which point he has all the leverage."

Monday, August 10, 2020

Biden says Trump executive order is 'a reckless war on Social Security' | TheHill

One of the several orders Trump signed from his private club in Bedminster, N.J., on Saturday afternoon directs the Treasury Department to allow employers to defer payment of employee-side Social Security payroll taxes through the end of the year for Americans making less than roughly $100,000 annually. Trump also said he intends to forgive the deferred payroll taxes and make permanent payroll tax cuts if he is reelected in November. https://thehill.com/homenews/campaign/511197-biden-says-trump-executive-orders-are-a-reckless-war-on-social-security

Tuesday, May 12, 2020

Donald Trump is proposing attacks on Social Security and seniors; here is what we should do instead | TheHill

The coronavirus pandemic ravaging our nation is impacting all of us, but not equally. Seniors and people with disabilities are most vulnerable to COVID-19, the disease caused by the pandemic. Without targeted relief, these groups will continue to suffer immensely in the coming months and years. Seniors and people with disabilities need immediate assistance, but Donald Trump has now vowed that they won’t get any — unless Congress bows to his demand to cut Social Security’s payroll tax.
https://thehill.com/blogs/congress-blog/politics/497169-donald-trump-is-proposing-attacks-on-social-security-and-seniors



Friday, May 1, 2020

Trump Pursues Payroll Tax Cut as GOP, Democrats Look Elsewhere - Bloomberg

A big cut in the payroll tax is high on President Donald Trump’s wish list for the next coronavirus response bill, but the idea is getting the brushoff from newly-cost-conscious Republicans and Democrats who would rather send aid to people who aren’t getting a paycheck. https://www.bloomberg.com/news/articles/2020-04-30/trump-pursues-payroll-tax-cut-as-gop-democrats-look-elsewhere




Thursday, April 9, 2020

Critics claims Trump’s ‘confession’ on permanent payroll tax cut is ‘an excuse to destroy our Social Security system’ – Raw Story

President Donald Trump on Tuesday once again voiced his support for slashing the payroll tax—the primary funding mechanism for Social Security and Medicare—and said he would be calling for such a cut even if the U.S. were not currently in the midst of a nationwide public health and economic emergency. “I would love to see a payroll tax cut,” Trump, who has repeatedly vowed to “save” Social Security, said at the end of the Coronavirus Task Force briefing Tuesday evening. “I think on behalf of the people it would be quick… There are many people who would like to see it as a permanent tax cut.”
https://www.rawstory.com/2020/04/critics-claims-trumps-confession-on-permanent-payroll-tax-cut-is-an-excuse-to-destroy-our-social-security-system/

Thursday, March 12, 2020

Senate Democrats pan Trump's payroll tax proposal as 'huge mistake' | TheHill

Senate Democrats say President Trump’s plan to dramatically cut payroll taxes as a response to the coronavirus outbreak's hit to the economy is a “huge mistake” that will take a “wrecking ball” to Social Security. They are vowing to oppose it even though many of them supported President Obama’s decision to cut payroll taxes in 2011 ahead of his 2012 reelection. Democrats argue that tax cuts won’t help people who miss work because of the coronavirus. ....
http://thehill.com/homenews/senate/487091-senate-democrats-pan-trumps-payroll-tax-proposal-as-huge-mistake

Thursday, August 22, 2019

Tuesday, August 20, 2019

Sunday, April 16, 2017

Social Security Advocates Sound The Alarm About The Latest Trump Tax Plan

Following reports that President Donald Trump is dumping the tax plan he campaigned on and exploring a host of other options, advocates for Social Security are sounding the alarm, pointing to a proposal to eliminate the program's primary source of funding: payroll taxes.

Though it is not yet known how far along the White House proposal has progressed, those who want to protect Social Security say they are taking the news "extremely seriously."...
http://talkingpointsmemo.com/dc/social-security-tax-program-cuts









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