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John,
Breaking news from Reuters:1
Donald Trump’s campaign team is considering proposals to slash Social Security and Medicare’s dedicated funding, making cuts possible WITHOUT a vote in Congress!
We need to launch a campaign on Capitol Hill and in critical states to STOP Trump’s plan to defund Social Security and Medicare! Can you rush a donation today?
Our Social Security system is funded by workers paying in with every paycheck. By law, Social Security cannot add a penny to the federal deficit. This design was intentional. As Franklin Delano Roosevelt said back in 1941:2
We put those pay roll contributions there so as to give the contributors a legal, moral, and political right to collect their pensions and their unemployment benefits. With those taxes in there, no damn politician can ever scrap my social security program.
By cutting Social Security and Medicare’s dedicated funding, Donald Trump is embracing the classic Republican playbook to “starve the beast.” In this case, the ‘beast’ is our Social Security system.
By law, Social Security can only pay benefits if it has sufficient dedicated revenue to pay its costs. If Trump succeeds in slashing that dedicated revenue so that it is no longer sufficient to fully cover the cost, it will result in an automatic benefit cut. This would happen without any Republicans having to vote for the cuts, or Trump having to sign them into law.
At the end of his term in office, Trump delayed Social Security’s dedicated revenue paid from workers and their employers. He was quite explicit that, if re-elected, he would convert that delay into a permanent cut.[2] Fortunately, the American people rejected Trump’s anti-Social Security agenda in 2020.
We must defeat this anti-Social Security agenda! Donate to Social Security Works today!
Thank you,
Alex Lawson
Social Security Works
1 https://www.reuters.com/world/us/donald-trump-mulls-middle-class-tax-cut-he-eyes-return-office-2024-04-17/
2 https://www.ssa.gov/history/Gulick.html
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