President Donald Trump passed the biggest tax overhaul in three decades. And while the cuts aren't perfect, there are a number of benefits for corporations and individuals that will boost myriad sectors of the economy in 2018. The new tax law "offers real tax relief" to people on all rung...
If that occurred, the Social Security Administration could be forced to make larger benefit cuts a year earlier than is now forecast. "It really is, in some ways, Trump advocating defunding Social Security," Nancy Altman, president of Social Security Works, an advocacy group for the program...
Trump and Democratic nominee Vice President Kamala Harris have each said they will protect Social Security from benefit cuts. However, neither has put forward a plan to reform the program ahead of the trust fund's depletion. In its report, the CRFB noted that Trump's plan to end...
Martin Wolf, writes that, “The (Republican) tax proposals would shower huge benefits on already rich Americans such as Mr Trump, while leaving others in the lurch, including, of course, his
Trump, however, maintains that the tariffs will do greater damage to China’s economy. On Monday, he Tweeted, that consumers could avoid the effects of tariffs by buying goods from a “non-tariffed” country. He also said there would be “nobody left in China to do business with” and...
Together, Trump's plans would add about $2.3 trillion to Social Security's cash deficit between fiscal year 2026 and 2035, the CRFB estimated. "As a result of these higher cash deficits, Social Security trust fund reserves would be depleted much faster than under current law," the analysis...
Now thatTrump has wona second presidential term, that may prompt Social Security's beneficiaries to wonder whether that change may come to pass. Butnixing those taxesmay be a difficult task, even if Trump has a Republican majority in both the Senate and the House of Representatives. Any...
Experts estimate the program's trusts will run out of funds around 2035 if no action is taken by Congress. Advertisement President-elect Donald Trumppreviously pledged tax cutsfor older Americans, posting on Truth Social in July that "SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!" ...
But, Streeter said that if Chancellor Rachel Reeves is forced to bring in spending cuts or further tax rises, or if there are other "detrimental effects"of Trump's tariffs, it may prompt the Bank of England to cut interest rates a "little faster this year, than financial markets are predi...
points that the tax reform is for the rich. They have to keep Trump’s poll numbers down. It is inexplicable that over half the people in polls don’t believe they will get tax cuts except for the fact that Democrats, with the help of compliant media, have spewed forth that ...