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Trump and Social Security
Sean Williams of The Motley Fool writes a comprehensive piece here, detailing Donald Trump’s views on Social Security from the past decades until now. Trump has talked about tax increases as far back as 2000, cautioned against big changes in a 2013 speech, and has more recently suggested no changes at all. Trump’s approach thus far as president has been to grow the economy, and Williams notes the tax cuts enacted in December 2017 did have a modest effect on the solvency of Social Security. But the structural problem, which is demographic, remains for the long term. Further, it is not self-correcting without some kind of reform. Read more here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved by making modest changes in cost of living adjustments and the retirement age, with no additional taxes on workers. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own well researched ideas. One component is Social Security PLUS, a new, voluntary plan that would allow all earners to have more income available at retirement. This component is intended to appeal especially to younger workers. AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years. Read AMAC’s plan here.