Trump Just Admitted on Live Television He Will 'Terminate' Social Security and Medicare If Reelected

Do you ever post anything that's true?

SeventyOne said:

Do you ever post anything that's true?

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It's true to him.

The link is from a group that believes that Employment the only revenue for the Federal Government and is counting on people believing the same.

I think they skipped civics classes in high school.

SeventyOne said:

Do you ever post anything that's true?

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hislegacy said:

It's true to him.

The link is from a group that believes that Employment the only revenue for the Federal Government and is counting on people believing the same.

I think they skipped civics classes in high school.

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At 27:32. He talks about it earlier in the news conference as well.

Watched him sign all of the executive orders. Strange, this fallacy was not among them.

No where in that video especially where you noted did President Trump say he would terminate SS and Medicare if re-elected. @ Hank

ItIsFinished! said:

No where in that video especially where you noted did President Trump say he would terminate SS and Medicare if re-elected. @ Hank

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Did you listen to the whole video to hear where he talks about it further?

SeventyOne said:

Do you ever post anything that's true?

Click to expand...

hislegacy said:

It's true to him.

The link is from a group that believes that Employment the only revenue for the Federal Government and is counting on people believing the same.

I think they skipped civics classes in high school.

Click to expand...

TexFire316 said:

Watched him sign all of the executive orders. Strange, this fallacy was not among them.

Click to expand...

ItIsFinished! said:

No where in that video especially where you noted did President Trump say he would terminate SS and Medicare if re-elected. @ Hank

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The “payroll tax holiday” will affect Americans making less than $100,000 annually and will be in effect from Aug. 1 through the end of 2020. Trump said if he is re-elected in November, he may seek to extend the deferral and “terminate” the tax. The tax funds Social Security and Medicare benefits, The Washington Post reported.
Trump signs executive orders on payroll tax, evictions, student loans, unemployment


The payroll tax refers to FICA, which stands for the Federal Insurance Contributions Act, and it has two parts - Social Security and Medicare. Payroll tax is deducted from your paycheck to cover those two social programs.
...
The President said that he would direct the Treasury Department to allow employers to “defer” the payment of payroll taxes and then direct the Secretary of the Treasury to “explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.”


He would later state that if he was re-elected, he’d “terminate” those taxes. In the past, President Trump has promised to not cut Social Security, Medicare, and Medicaid but this statement seems to indicate that his stance has changed on these social safety net programs.
President Trump Signs Executive Orders For $400 Unemployment Insurance, Payroll Tax Holiday, Student Loan Relief, and Eviction Moratorium


Another of the orders directs the Treasury Department to allow employers to defer payment of employee-side Social Security payroll taxes through the end of 2020 for Americans earning less than about $100,000 annually. The text of the executive order states that the intended deferral period would start Sept. 1, but Trump suggested that it could be retroactive to Aug. 1. Trump also said that he hoped to forgive the deferred payroll taxes and make permanent payroll tax cuts if he is reelected in November.

“If I win, I may extend and terminate,” Trump said. “In other words, I’ll extend it beyond the end of the year and terminate the tax.”
Trump signs executive orders after coronavirus relief talks falter

tulc said:

full headline:


Trump Just Admitted on Live Television He Will 'Terminate' Social Security and Medicare If Reelected in November

tulc(will be following this story)

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you do not have to read this article long to see the obvious bias. things like Trump cut the Dem approved 600 benefit to 400. No what he did was provide a $400 benefit to replace the expired one because Dems are more interested in bailing out mismanaged cities then helping the working class.

Love the comments on the thread.

Tulk, Tulk, Tulk..

Hank77 said:

The “payroll tax holiday” will affect Americans making less than $100,000 annually and will be in effect from Aug. 1 through the end of 2020. Trump said if he is re-elected in November, he may seek to extend the deferral and “terminate” the tax. The tax funds Social Security and Medicare benefits, The Washington Post reported.
Trump signs executive orders on payroll tax, evictions, student loans, unemployment


The payroll tax refers to FICA, which stands for the Federal Insurance Contributions Act, and it has two parts - Social Security and Medicare. Payroll tax is deducted from your paycheck to cover those two social programs.
...
The President said that he would direct the Treasury Department to allow employers to “defer” the payment of payroll taxes and then direct the Secretary of the Treasury to “explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.”


He would later state that if he was re-elected, he’d “terminate” those taxes. In the past, President Trump has promised to not cut Social Security, Medicare, and Medicaid but this statement seems to indicate that his stance has changed on these social safety net programs.
President Trump Signs Executive Orders For $400 Unemployment Insurance, Payroll Tax Holiday, Student Loan Relief, and Eviction Moratorium


Another of the orders directs the Treasury Department to allow employers to defer payment of employee-side Social Security payroll taxes through the end of 2020 for Americans earning less than about $100,000 annually. The text of the executive order states that the intended deferral period would start Sept. 1, but Trump suggested that it could be retroactive to Aug. 1. Trump also said that he hoped to forgive the deferred payroll taxes and make permanent payroll tax cuts if he is reelected in November.

“If I win, I may extend and terminate,” Trump said. “In other words, I’ll extend it beyond the end of the year and terminate the tax.”
Trump signs executive orders after coronavirus relief talks falter

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There are other ways of funding social security, that fund was used as somewhat of a slush fund for years. Social security does not come to and end just because the funding is changed. It may even be an improvement over a fund that was projected to go bankrupt at some future time anyway.

disciple Clint said:

you do not have to read this article long to see the obvious bias. things like Trump cut the Dem approved 600 benefit to 400. No what he did was provide a $400 benefit to replace the expired one because Dems are more interested in bailing out mismanaged cities then helping the working class.

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How does $400 rather than $600 help the working class more?

The whole thing was a stunt. The Republicans wanted to be tight so Trump can come to the rescue. Except the need of the country go unmet in the process.

Akita Suggagaki said:

How does $400 rather than $600 help the working class more?

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And the federals are putting up $300, the states have to put up the other $100 but they can choose not to. Some states are already in financial trouble because of the virus so I wouldn't count on that $100.

SeventyOne said:

Do you ever post anything that's true?

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No they seem to have much trouble with that.
Trump would never do that because,
he is for All The People
unlike the runner on the left
who loves his basement.
M

It’s hard to interpret Trumps comments. He seems to say a lot of things without thinking. In theory he’s talking about defunding SS. In practice, who knows? The problem with his executive order is that at some point the taxes become due. Even if things go well, January won’t be a good time to sock people with deferred taxes. If he permanently removes them, that does affect the solvency of SS. There is a pretty good chance that the net effect actually will hurt SS. Sure, there can be other funding, but nothing in the Republican record suggests that they’ll be willing to increase income taxes or anything else.

Hank77 said:

The tax funds Social Security and Medicare benefits,

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It is as easy as looking at your paystub. The President is eliminating box 2. Federal Tax. He said zero, nothing about Box 4

FEDERAL INCOME TAX. Not Social Security tax, not Medicare tax. Three different items.

being informed helps fight the misinformation.

hedrick said:

It’s hard to interpret Trumps comments. He seems to say a lot of things without thinking.

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Or dems refuse to think at all about a lot of things he says, and prefer to get them wrong.

By design.

hislegacy said:

View attachment 282517


It is as easy as looking at your paystub. The President is eliminating box 2. Federal Tax. He said zero, nothing about Box 4

FEDERAL INCOME TAX. Not Social Security tax, not Medicare tax. Three different items.

being informed helps fight the misinformation.

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Here are the items:

1) Deferral of payroll tax. That's not income tax. Income tax isn't a payroll tax, even though it feels like one. It's SS and medicare. But they will be due in January. It's not likely that we'll be out of economic troubles then. So his successor will be stuck with choosing between having the back taxes all due, or further deferments. If they cancel is (which would require Congress) that would create a funding problem for SS. This is an odd plan, since it only helps people who are working. (Deferring income taxes would be different, since they are based on the previous year's earnings.)

2) $400 unemployment. But unlike the previous $600, the states have to agree to pay $100. They have to negotiate an agreement with the Feds before benefits start. This is likely to require changes to their computer systems, which we've learned from the past, won't come quickly. It's also not clear whether all states will be able to pay the additional amounts. The funds he has allocated only cover 5 weeks of this. I'm not expressing any opinion on constitutionality. The current situation is certainly a disaster. Using disaster relief funds might be constitutional.

Funding for the $300 unemployment is coming from disaster relief. We had better hope there are no more hurricanes this year.

3) There is not actually an eviction ban. Rather, he has asked HHS to consider one. This is another deferral, with the same problem as the first: at some point rent becomes due. Then what? However many states, including mine, have done this already, so you can hardly blame him.

4) Deferral of payments and waiving interest for student loans.

I think the big question is whether this will take the pressure off congress to come up with a real deal. If they still do, temporary actions might be a good thing (except for 2, which has enough issues that it's not likely to have any immediate effect). If this makes it less likely for Congress to do a real bill, it is probably unhelpful, except maybe for Trump's politics. Perhaps the 5-week time limit on the $400 will keep the pressure on.

https://www.washingtonpost.com/busi...hat-is-actually-trumps-four-executive-orders/

hedrick said:

Deferral of payroll tax. That's not income tax. Income tax isn't a payroll tax, even though it feels like one. It's SS and medicare.

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Citation, do you have proof of any of this?

hislegacy said:

Citation, do you have proof of any of this?

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President’s Executive Order On Payroll Taxes - Some Detail

Most don't agree that it covers SS but not medicare.

https://www.kiplinger.com/taxes/601197/what-trumps-payroll-tax-cut-will-mean-for-you

For some of the issues raised:
Suspending the Payroll Tax By Executive Order Raises As Many Questions As It Answers

It doesn't appear that either party in Congress favored this cut. It helps the wrong people, and it creates funding issues for SS and Medicare.