John,
Last week’s infographic was a huge success, receiving massive attention on social media―educating voters about how Joe Biden’s and Donald Trump’s tax plans will impact our country’s future.
In our latest infographic, we take a look at Biden vs. Trump on Social Security.
One candidate will strengthen Social Security by having the wealthy pay taxes on all of their wages above $400,000―they currently stop paying the tax at about $138,000 in wages. Biden will use that revenue to increase the minimum Social Security benefit and ensure the program can pay full benefits for decades.
The other―Donald Trump―has spoken about “terminating” the payroll tax that funds Social Security, which would effectively kill the program by 2023.
Social Security is critical to the financial stability of tens of millions of families―seniors, people with disabilities, veterans, children and surviving spouses. It’s also the most successful social insurance program in our country’s history.
Check out our second infographic below: Biden vs. Trump on Social Security. Then pitch in $5 to help us educate millions of voters on which candidate’s plan would strengthen Social Security and which would destroy it within just three years.
Recently, Social Security’s Chief Actuary wrote a letter to Congress stating that without payroll tax contributions, Social Security’s Trust Fund will run out of money in 2023, with the disability trust fund running out even sooner.
In response, what did Congressional Republicans do? Sen. Steve Daines (R-MT) and Rep. Kevin Brady (R-TX) doubled down on Trump’s recent actions, each introducing legislation to cancel employees’ payroll contributions the remainder of this year. [1] [2] This is an assault on the future of Social Security and provides little to no aid to working families.
Donate to Americans for Tax Fairness Action Fund today to help us educate the American people on Joe Biden vs. Donald Trump on Social Security.
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We must fight back against the relentless attacks on our earned benefits, which are critical to our economic security.
Thank you,
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “Daines to Introduce Payroll Tax Cut Relief Bill Following President Trump’s Executive Order,” Press Release, Aug. 8, 2020
[2] “Top Republican offers bill to create payroll tax holiday,” The Hill, Sept. 11, 2020