Trump, Pence, and their coronavirus working group.

Donald Trump’s proposal to cut the payroll contribution rate is a stealth attack on Social Security. Even if the proposal were to replace Social Security’s dedicated revenue with deficit-funded general revenue, the proposal would undermine this vital program.

The proposal is a Trojan horse. It appears to be a gift, in the form of middle-class tax relief, but would, in the long run, lead to the destruction of working Americans’ fundamental economic security. While the goal of the proposal is stated in terms of fiscal stimulus, its most important impact, if not its intent, is to do what opponents of Social Security have been unable to do—end Social Security as we know it.

The supposed purpose of a reduction in payroll contributions is to address the coronavirus crisis. Tax cuts do not meaningfully address the coronavirus, or even the resulting market panic. We do want to ensure that people have the cash they need while they face massive uncertainties around employment and other costs. We want people to […]