President Trump’s plan is to temporarily “suspend” payments by individuals and then have the payments collected at a later date. I don’t know if employers would still have to pay their matching amounts.
There is supposedly a proposal, which I’ve not been able to confirm, that would terminate individual SS payments and use general fund revenue to pay SS to folks.
President Trump’s plan is to temporarily “suspend” payments by individuals
Actually, I heard him with my own ears say he wants to permanently eliminate the payroll tax if he’s re-elected. Since it’s the payroll tax that funds Social Security and Medicare, I couldn’t believe he was making that promise/threat just before an election. I understand Democrats are already running with this issue in retirement-heavy communities in Florida.