Is Trump going after Social Security and Medicare?
Trump "signaled that he's going after Social Security and Medicare. Basically, he was talking about ending the financial contributions we all make into Social Security and Medicare through the payroll tax," Clinton said.
How will the government cut Medicare costs?
The Committee for a Responsible Federal Budget, which advocates for fiscal responsibility, estimates that 85 percent of these cuts will come from reductions in provider payments, 5 percent would come from policies around medical malpractice, and 11 percent would come from reducing drug costs through the Medicare Part D program.
How will trump's health care reform plan change Medicaid?
But Trump is envisioning changing Medicaid altogether; his budget proposes transforming the current pay-as-needed system to a block grant, where states are given a capped lump-sum fund that doesn’t grow with increased need or rising costs. The budget proposes a $1.2 trillion “Market-Based Health Care Grant.”
Is Trump defunding Social Security and Medicare with payroll tax defunds?
President Donald Trump's Saturday decision to sign an executive order to defer payroll taxes has fueled concerns that he is attempting to defund Social Security and Medicare, with the latest order drawing criticism from conservatives and liberals alike.
Fact check: 'Record' job gains still leave the U.S. labor market in worse shape than Great Recession
On the last night of his party’s convention, President Trump bragged about “record” job gains in recent months, but the 9.1 million jobs he touts come with some qualifiers.
Trump usually includes new material in major speeches. Not tonight
President Trump spoke for roughly 70 minutes on Thursday, one of the longest convention speeches in modern history.
Trump speech missing several of his favorite talking points
While President Trump launched attack after attack on Joe Biden, he left out a number of his favorite topics of criticism in his acceptance speech.
Fact check: Trump claims Biden wants to 'close all charter schools.' That's false
"Biden also vowed to oppose school choice and close all charter schools, ripping away the ladder of opportunity for Black and Hispanic children," Trump claimed on Tuesday night.
Fact check: Trump repeats out-of-context Biden comment to mislead on police stance
President Trump, arguing that Americans wouldn't be safe under Joe Biden, repeated a claim Mike Pence made Wednesday, quoting the former vice president as saying, "Yes, absolutely," as a response to whether he'd broadly support cutting funding for law enforcement.
Fact check: Trump boasts of delivering PPE early in pandemic, doesn't mention ongoing shortages
"We shipped hundreds of millions of masks, gloves and gowns to our frontline health care workers.
Trump mentions Kenosha, not Jacob Blake
Midway through his speech Thursday, Donald Trump mentioned Kenosha, Wisconsin — but did not make mention of Jacob Blake, who was shot seven times in the back by the city's police.
Who was the Treasury Secretary when Trump signed the tax deferral order?
The order also instructed Treasury Secretary Steven Mnuchin to "explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred" — a goal Trump reiterated in remarks after he signed the order.
When will Social Security be paid back?
An official from the White House told USA TODAY on Tuesday that the Social Security Trust Fund is not at risk, since payment deferral is only temporary, and at present, must be paid back early in 2021. The official confirmed, though, that the president called on Congress to make the deferral permanent, thereby eliminating the tax.
How much is the Social Security Trust Fund surplus?
Nancy Altman, the president of Social Security Works, told USA TODAY that the Social Security trust fund has a surplus of $2.9 trillion – only enough to last three years without new tax revenue.
Can Trump defer payroll tax?
Notably, it's not within a president's power to unilaterally change tax law or re-appropriate government funds, experts told the New York Times. If reelected, Trump could continue to defer the payroll tax with executive orders, but he could not eliminate the payroll tax entirely or provide a new source of funding for Social Security without support ...
Will Trump end Social Security?
Based on our research, the claim that Trump said he will "terminate" Social Security if he is reelected is PARTLY FALSE. Trump recently signed an order offering temporary relief from the payroll tax that funds Social Security, and he has repeatedly said he'd terminate the tax entirely if he's reelected.
Did Trump defer taxes on Social Security?
Trump deferred the tax that funds Social Security, and vowed to 'terminate' the tax in the future. The vast majority of Social Security is financed through the payroll tax, according to the Social Security Administration.
Does the tax relief affect Social Security?
Trump, White House claim the tax relief will not impact Social Security. On Sunday, as he boarded Marine One, Trump told reporters that the executive order deferring payroll taxes for some Americans will "have zero impact on Social Security.". "We protect Social Security," he added, according to Fox News.
What did Pelosi and Schumer say about Trump's executive order?
In a joint statement, Speaker of the House Nancy Pelosi, a California Democrat, and Senate Minority Leader Chuck Schumer, a New York Democrat, warned that Trump's executive order would "endanger seniors' Social Security and Medicare.".
Do Democrats support Medicare expansion?
To the contrary, many Democrats currently support expanding Social Security and Medicare. Addressing the concerns on CNN's State of the Union on Sunday, Trump's economic adviser Larry Kudlow said the president was not trying to defund the programs. "He will protect Social Security and Medicare, as he has pledged to do many, ...
Does Trump have the power to rewrite the payroll tax law?
"President Trump does not have the power to unilaterally rewrite the payroll tax law. Under the Constitution, that power belongs to the American people acting through their members of Congress," Sasse said.
What did Trump say about the payroll tax?
First, he said he planned to “forgive” the payroll taxes in question, meaning that rather than simply being delayed, the obligation to pay those four months’ worth of Social Security and Medicare taxes would be removed entirely.
When will Social Security taxes be eliminated?
On Aug. 8, 2020, U.S. President Donald Trump said he intended to "terminate the tax," referring to Social Security and Medicare payroll taxes. It's a step that would — if taken in isolation — remove nearly 90% of funding for Social Security benefits, and thus likely pose a threat to the continued existence of those programs.
Is Trump's executive order to defer Social Security bad?
Donald Trump’s executive order, which seeks to defer Social Security contributions, is bad enough. But his promise to ‘terminate’ FICA contributions if he is reelected is a full-on declaration of war against current and future Social Security beneficiaries. Social Security is the foundation of everyone’s retirement security.
Is Social Security the only disability insurance?
Moreover, Social Security is often the only disability insurance ...
Did Trump cancel Social Security?
Trump did not explicitly vow to terminate Social Security, as those headlines claimed, but one of several plans he mentioned in an Aug. 8 press conference involved eliminating payroll taxes — a move that would, as things stand, remove the overwhelming majority of funding for Social Security and likely pose a threat to its continued existence.
