Biden vs. Trump: Where do the candidates stand on Social Security?

[Michie]

From the article.
Here's where the two candidates stand on Social Security benefits

Social Security provides a vital financial lifeline for tens of millions of Americans, and many more expect to rely on their monthly Social Security benefits when they retire.

With the program facing financial challenges, Social Security has become a key issue in the 2020 presidential campaign.

Both President Donald Trump and former Vice President Joe Biden have stated their support of Social Security, but the two candidates have very different ideas about what to do with the program.


In particular, Biden's overall plan includes some provisions that would boost Social Security benefits in many cases, but it would come at the cost of additional taxes.

Meanwhile, Trump hasn't taken Social Security head-on as an issue in 2020, but some of what he's done and proposed as president points to what he likely wants to do with the program.

Continued below.
Biden vs. Trump: Where do the candidates stand on Social Security?

 

[TribulationSigns]

What about Trump's executive order to cut payroll tax (temporarily or permanent) that helps funds Social Security?

 

[JackRT]

What about Trump's executive order to cut payroll tax (temporarily or permanent) that helps funds Social Security?

Agree. That alone guarantees the quick financial starvation of both Social Security and Medicaid.

 

[Hank77]

Agree. That alone guarantees the quick financial starvation of both Social Security and Medicaid.

Medicare

 

[Hank77]

In particular, Biden's overall plan includes some provisions that would boost Social Security benefits in many cases, but it would come at the cost of additional taxes.

Taxpayers with earnings in excess of $400,000 would also be subject to the Social Security payroll tax, according to the analysis. Currently, wages up to $137,700 are subject to the Social Security tax, of which the employee’s share is 6.2%.
Here's what a Biden presidency might mean for your taxes

 

[Albion]

That alone guarantees the quick financial starvation of both Social Security and Medicaid.

What about Trump's executive order to cut payroll tax (temporarily or permanent) that helps funds Social Security?

The taxes are not directly related to the benefits paid (which was the issue). It's just political rhetoric, or a meaningless technicality if you prefer, when it is claimed that the SS trust fund will run out in 2027 or 2030 or any other date.

 

[jgarden]

What about Trump's executive order to cut payroll tax (temporarily or permanent) that helps funds Social Security?

This President and his supporters are in a cult-like relationship and they just don't care about that segment which many considered expendable when it came to reopening the economy!

Any President willing to risk the well-being of America's children as pawns in his re-election campaign in 2020, is not about to lose any sleep over defunding Social Security for his own crass political purposes!