Trump plans to end Social Security funding if we give him another four years.

“According to estimates from the independent chief actuary of the Social Security Administration, if all Social Security contributions from payroll tax stopped on Jan. 1, 2021, the nearly 10 million people today getting Social Security Disability Insurance benefits, which averages about $1,125 every month, would see them stop abruptly in the middle of 2021. Those 55 million receiving Social Security Old-Age and Survivors Insurance benefits, which average around $1,440 a month, would see them disappear two years later. Congress could only stop Trump by enacting veto-proof legislation, a highly unlikely proposition).”

As of 2019 there were 64 million people collecting benefits. That accounts for almost 20 percent of the total population of 330 million. For 65 percent of elderly beneficiaries, Social Security provides the majority of their cash income. For 36 percent of them, it provides 90 percent or more of their income. For 24 percent of them, it is the sole source of retirement income.

So, if he gets re-elected be ready to see as many as 57 million seniors living with their children or in the streets.

His mishandling of the COVID pandemic has caused my life savings to diminish by a full 50 percent. Fortunately, the market has rebounded some and I’m down only 20 percent. Now this is the next threat. I for one would not make it on what’s left if SS benefits go. That’s bad enough, but to believe that after paying in for 50 years (from 15 years old) that I won’t receive the benefits guaranteed me all those years of paying is unimaginable. Even more unimaginable is that at least 40 percent of the people in this country want to give him another 4 years.

Comments

  1. If that isn't enough to kill the Republican party, I can't imagine what would be. I wonder how his supporters would feel if they suddenly realized that they may be called on to feed and shelter their aged parents with no financial help at all?

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