Ending Illegal Immigration
As we have noted in the past, illegal immigration is one of the biggest threats to the future solvency of Social Security. President Trump’s crackdown on illegals with reduce fraud and burdens on the system.
Improving Job Market
Social security is entirely funded through payroll taxes. With 43 million Americans out of work during Obama’s tenure, the future of the program was in jeopardy. Putting people back into the workforce will ensure greater contributions and bigger benefit increases.
Social Security Reform Act
The SSRA will modernize SS for the 21st century. The legislation will allow for lump sum payments of delayed retirement credits, eliminate the RET, and improve the formula for calculating benefit payments.
President Trump’s historic tax reforms will reduce tax burdens on the middle class and corporations. Easing these burdens will encourage consumer spending, higher wages, and provide a much-needed boost to the economy.
Raising the Tax Cap
Increasing the tax cap has the potential to solve the social security shortfall. It means that 12 million more workers than before, will pay into the system. President Trump is working tirelessly to ensure that hard-working American will receive the benefits they have earned.
And, to provide them with a payment that will hopefully allow for more than just “surviving” their retirement.