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Social Security
Photo by The White House

Donald Trump's recent executive action on payroll taxes could have dire effects on Social Security — at a time when Trump is already losing support from older Americans more broadly.

Over the weekend, Trump directed the Treasury Department to stop collecting the tax, which funds Social Security, through the end of 2020 for anyone making less than $100,000 a year, an attempt to go around Congress and buff up his own electoral chances this November.

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The White House

Reprinted with permission from Alternet

President Donald Trump said over the weekend that if re-elected, he will "terminate" the taxes that finance Social Security and Medicare. Advocates of the popular federal programs took that remark as proof of their warnings over many months about Republican plans to sabotage and defund them -- beginning with the White House scheme to "suspend" payroll taxes in the name of pandemic relief.

Defying constitutional prohibitions, Trump announced that he had signed executive orders to bypass Congress in their dispute over a new relief bill, which included his unilateral decision to cut $200 weekly from the emergency federal unemployment supplements of $600 passed by Democrats, He called the order a payroll tax "holiday -- and while those taxes will eventually have to be repaid, Trump said he would make the cut permanent. Experts noted that this policy would bankrupt the Social Security and Medicare systems.

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