Trump payroll tax cut is Social Security risk
BALTIMORE (AP) — President Donald Trump’s proposed payroll tax cut is a threat to Social Security no matter how he casts it.
During a news conference Wednesday, he insisted he could eliminate the tax if he were reelected, and do it without undercutting retirement benefits or greatly adding to the deficit. He said economic growth would offset the revenue losses.
That claim has little basis in reality.
He also pointed to a manufacturing boom during the coronavirus pandemic but there isn’t one.