Donald Trump’s proposal to cut the payroll contribution rate is a stealth attack on Social Security. Even if the proposal were to replace Social Security’s dedicated revenue with deficit-funded general revenue, the proposal would undermine this vital program.
The proposal is a Trojan horse. It appears to be a gift, in the form of middle-class tax relief, but would, in the long run, lead to the destruction of working Americans’ fundamental economic security. While the goal of the proposal is stated in terms of fiscal stimulus, its most important impact, if not its intent, is to do what opponents of Social Security have been unable to do—end Social Security as we know it.
Portside