April 08, 2020

Trump Using Pandemic as a Smokescreen to Destroy Our Retirement Security

Payroll Tax Cut Scheme is a Severe Threat to Social Security

The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, regarding President Trump’s April 7 statement that he supports cutting the payroll tax that funds Social Security and Medicare.

“During President Trump’s press conference yesterday with members of the Coronavirus Task Force, he made cavalier yet deeply disturbing comments that a permanent payroll tax cut would be a good idea. This is just the latest evidence that President Trump intends to cut Social Security and Medicare, benefits that millions of Americans have earned over a lifetime of work.

“The payroll tax funds Social Security and Medicare, programs that are always crucial but take on added significance during the coronavirus pandemic. Americans are already facing record levels of unemployment — cutting Social Security and Medicare would extend the negative effects of the coronavirus pandemic for decades.

“Of course a payroll tax is the latest evidence that the president has no intention of keeping his 2016 campaign promise of “no cuts” to Social Security and Medicare.

“The pandemic has disrupted all our lives and put the health of millions at risk. We will fight any attempt to use this crisis as a way to dismantle our retirement security.”

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Contact:  David Blank,  dblank@retiredamericans.org