can someone explain the payroll tax thing trump keeps harping on?

[aubiefifty 18,231]

and hopefully in plain language where i can understand it? i keep hearing that it would lead to cuts to social security. and i understand it would probably only hurt those in the future and not those on it now but i do not understand. thanx

[wdefromtx 3,610]

5 hours ago, aubiefifty said:

and hopefully in plain language where i can understand it? i keep hearing that it would lead to cuts to social security. and i understand it would probably only hurt those in the future and not those on it now but i do not understand. thanx

He wants put the payroll tax to 0% which is usually 7.65%. For the employee and if I recall 7.65% for the employer. It’s similar to what Obama did except he only cut like 2-3%. 

From what I understand it won’t effect SS now, just down the road. Honestly I’d rather have the payroll tax holiday. I get a statement each year from the SSA and it shows me what my check will be, then at the bottom says it will run out of money in 2034. But they’ve said that for ever. 

[Brad_ATX 13,654]

24 minutes ago, wdefromtx said:

I get a statement each year from the SSA and it shows me what my check will be, then at the bottom says it will run out of money in 2034. But they’ve said that for ever. 

I've never gotten this statement.  Does it start at a certain age or something?

[wdefromtx 3,610]

47 minutes ago, Brad_ATX said:

I've never gotten this statement.  Does it start at a certain age or something?

I have no clue. I’ve gotten them every year since I was 14 and started paying taxes.