Tag: cutting Social Security
Why in the world would Republicans put out a plan to dramatically cut Social Security? Even Donald Trump said he wouldn’t mess with the program’s benefits. Yet, the Republican Study Committee’s Blueprint to Save America, released in June, has a full section devoted to Social Security. I had never heard of the Republican Study Committee (RSC),…
Abstract Social Security’s Trust Fund is projected to run out in 2034. As policymakers consider restoring financial balance to the program, one topic that may be discussed is how to structure any tax increases. Understanding why Social Security requires a higher payroll tax than a funded retirement program for a given level of benefits is…
