Donald Trump and Social Security - AMAC & Newsweek
There was a time when one would commend a politician for having keen political instincts by avoiding talk of reforming Social Security. But given that insolvency is a decade or less away and deep benefit cuts loom, those who follow Social Security would argue now is not the time to be dismissive of reform. Donald Trump has consistently taken a “leave it alone” approach when asked about Social Security. This Newsweek piece by Jenni Fink compiles new, rather unconventional quotes by Trump this week on rescuing America’s most popular but financially imperiled social insurance program. “You don’t have to touch Social Security. We have money laying in the ground far greater than anything we can do by hurting senior citizens with their Social Security.” Trump is talking about oil. Is Trump naïve to the problem? Does he even comprehend it? Does he see something no one else does? Read the full piece here.
As an example of the leading thoughts on reforming Social Security, the Association of Mature American Citizens (AMAC, Inc.) believes Social Security must be preserved and modernized. This can be achieved without tax increases by slight modifications to cost of living adjustments and payments to high income beneficiaries plus gradually increasing the full (but not early) retirement age. AMAC Action, AMAC’s advocacy arm, supports an increase in the threshold where benefits are taxed and then indexing for inflation, and calls for eliminating the reduction in people’s benefits for those choosing to work before full retirement age. AMAC is resolute in its mission that Social Security be preserved for current and successive generations and has gotten the attention of lawmakers in D.C., meeting with many congressional offices and staff over the past decade.