Donald Trump Is Coming for Your Social Security: How the GOP Plans a Bait and Switch to Cut Taxes — and Pensions

“Trump and his team are planning to completely abandon Social Security’s dedicated funding stream from the Federal Insurance Contributions Act payroll deduction and pay for the program with general revenue. They will sell this as a tax cut for workers, which is what it will look like on the paycheck. But Trump’s rumored innovation is to replace the money with a form of value-added tax, which means that typical workers, who spend most of their money on consumer goods, will still pay taxes; they will just lose their retirement guarantee. Rich people will get their tax cuts and don’t need Social Security anyway. It’s a GOP win-win.” More.