Here's what happens when the world's richest man buys the presidency
Raw StoryIn 1935, President Franklin Roosevelt created Social Security, an insurance contract between Americans and the federal government that pays out on certain life events. Trump’s GOP will be making “hard” choices, meaning they will be cutting benefits, in order to fund tax cuts for wealthy donors. Musk and Ramaswamy went to Capitol Hill last week to talk up their plans under DOGE, after which Republican lawmakers publicly confirmed that “everything,” including Social Security and Medicare, is now “on the table.” What’s not on the GOP’s table is fairly taxing billionaires like Musk and Ramaswamy, including requiring them to pay their fair share of social security taxes. During America’s “golden” years, the wealthy paid their fair share in taxes Many voters do not understand that oligarchs, CEOs, heirs, and the uber-rich pay far lower taxes today than they used to. bradfordtaxinstitute.com For billionaires like Musk and Ramaswamy, only $168,000 out of their millions/ billions in annual income is subject to social security taxes, and the rest is social security tax free.
History of this topic
Letters to the Editor: Social Security can be fixed easily, but it would upset the rich
LA Times
Trump plans would decimate Social Security in just 6 years: new study
Raw Story
Experts: Analysis shows Trump proposal would "dramatically worsen Social Security’s finances"
Salon
Congress has less than a decade to fix Social Security before it runs short of cash
NPR
Column: Social Security is again in the crosshairs of a GOP budget, even though a long-term fix would be simple
LA Times
How Trump ends Social Security
Raw Story
Column: An exhaustive debunking of the dumbest myths about Social Security
LA Times
Social Security benefits will increase by 3.2% in 2024
LA TimesThe Social Security cost-of-living adjustment is coming -- but it won’t be as big as this year’s
Associated Press
Why America can't put a dent in its $31-trillion debt
LA Times
Sanders-Warren plan would tax the rich to increase Social Security by $2,400 a year
Salon
The GOP is coming for your Social Security and Medicare
Raw Story
Column: GOP promises to gut your Social Security, Medicare if it takes power
LA Times
Social Security benefits to jump by 8.7% next year
Associated Press
Social Security checks getting big boost as inflation rises
Associated Press
Column: U.S. billionaires are done with Social Security taxes for 2021, but you’ll pay all year
LA Times
Retiree checks to rise 1.3% in 2021 amid coronavirus fallout
Associated Press
Column: Following order on payroll tax, Trump threatens to kill Social Security if reelected
LA TimesDiscover Related
