
Trump 'open' to slashing taxes that fund Social Security and Medicare: report
Raw StoryFormer President Donald Trump is toying with the idea of promising a large tax cut for the middle class as part of his 2024 re-election campaign — and one way he might do it is to raid the funding for Social Security and Medicare. According to Gram Slattery of Reuters, "Donald Trump has indicated to advisers he is keen on a new middle-class tax cut should he return to the White House, two people familiar with the discussions said, an initiative that could appeal to voters but could also worsen America's yawning budget deficit. Among the ideas that advisers have presented to the former president is a cut to the federal payroll tax, said one of those people, a move that could lower the flow of money into the Social Security and Medicare trust funds and open Trump to criticism from Democrats that he is torpedoing the safety net for elderly Americans." "Other ideas that Trump's close economic advisers are discussing include an increase in the so-called standard deduction on year-end tax returns and a cut to the marginal income tax rate for middle-income households, one of the people with knowledge of those conversations said," the report noted.
History of this topic

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