You Won’t Like How this Trump Pick Plans to ‘Fix’ Social Security

Trump cabinet pick planning radical steps to fix Social Security… Future benefits possibly at risk… Here’s what every American should know…

Peter Reagan, February 9, 2017

You probably already know it: Social Security is in dire straits. Currently, the program at risk of facing a major shortfall as soon as 2034, which means that receiving benefits in the future is far from a sure thing – even for today’s middle-age workers.

To fix the program, dramatic changes must happen now.

It’s with this urgency that President Trump has nominated Mick Mulvaney to run the Office of Management and Budget (OMB). While we don’t know for sure what fixes Mulvaney will apply, most would burden all taxpayers and beneficiaries.

Here are three discussed changes that could affect all Americans:

Option #1: Cut Social Security benefits.

Previously, Trump has said that cuts to payouts are off the table. But in a Senate confirmation hearing, Mulvaney indicated otherwise.

According to the Wall Street Journal, Mulvaney told the Senate that he would advocate for cuts to benefits, adding…

“I have to imagine that the president knew what he was getting when he asked me to fill this role.”

It isn’t hard to read between the lines. In 2009, Mulvaney called Social Security a ‘ponzi scheme’ and insisted the program as we know it should be brought to an end. Chances are slim his views are drastically different today.

Option #2: Increase Social Security taxes.

In 2016, every American paid 12.4% of their income under $118,500 to Social Security. Now, Mulvaney has the power to adjust that cap.

Already, the SSA announced the cap would increase by 7% in 2017. But Mulvaney is willing to push the cap higher. During his confirmation hearings, he declared that his pledge as a congressman to oppose tax increases would not extend to his service in the OMB.

Option #3: Raise the retirement age.

Today, the age at which Americans can receive full benefits for Social Security is set to increase to 67 for anyone born after 1960. But further increases aren’t out of the question.

So even if Social Security stays solvent, the length of time Americans can draw off the program during retirement could shrink significantly.

Asked if he believed that the age limit should be further adjusted, Mulvaney replied with a simple, “I do, yes sir.”

If Not Social Security, What CAN You Count On?

Regardless of what happens over the next decade, the long-term prognosis for Social Security doesn’t inspire confidence. And counting on the program for a comfortable retirement is a gamble, to say the least.

That’s why thousands of Americans have been moving their retirement savings into gold, an asset that will ALWAYS have value, and which the government can’t simply change the rules on.

While you still can: Get a FREE Info Kit on Gold, and the IRS Tax Law to legally move your IRA or 401(k) to precious metals.

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Remember, no matter what happens to Social Security, gold is a time-tested and proven way to protect your savings through good times and bad. To get started, click here to get this free info to protect your savings.


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  • James Cavender

    Take Peter Ragan out and execute him. If any one really wants to fix SS then the only way to do it is to pay back all the money stolen from it back in the 1970’s and 1980’s. It was supposedly borrowed from SS but since it was never repaid it was actually stolen. Back then there was such a surplus of funds in SS that the congress could not keep their hands out of it. If it was repaid with interest SS would be solvent far into the future.

  • Janice Pearce

    Keep your hands off of our social security! We dont get enough to live on as it is. we paid into it for years with hard work to save for when we get to old to work. And yes you do owe it to us… take it away from the free loaders that sit on there buts that could be working and would rather us pay them to do nothing. take a closer look at your books!

  • Dave Campbell

    It is my understanding that none of the “fixes” affect anybody in or near retirement. That being said, anytime you rely on the government for something like this, you will end up disappointed. Government will always screw it up in the end. As long as you have a government retirment plan, you will have the following:

    1. A retirment plan that does not pay enough to actually retire on.
    2. A retirment plan that will be expanded to include much that has nothing to do with retirement; hence causing #1.
    3. A retirment plan with exhorbident costs (for those of us receiving a payroll check, if you want to understand just how much it costs YOU, go to the OASDI line of deductions on your paystub and multiply by two.)
    4. A plan subject to change at anytime by congress (or even regulatory action) regardless of what you were “promissed”.
    5. A retirement plan that you are forced to participate in.

    (Sounds a lot like Obamacare, doesn’t it.)

    Also, remember that the way it was originally designed, most people would never collect anything from SS. The life expectancy of a majority of people was below 65 at that time. That was done on purpose. In the end, it was just a scheme to get the American worker to buy into a massive new tax and the proof is in the regular raiding of SS funds for other purposes (and if they stopped doing this they would have to raise other taxes to “make up” for the “loss”).

    I know I am in the minority, but SS is a disaster and I think more people would agree with me if they understood how the system actually works and what might be available to them if they had that exta money.

  • Dennis Powell

    How about passing a law that congress cannot touch SS ANYMORE! Then pay back the 3 TRILLION stolen from it. Then it will be self sustaining again!! - 2015 | Privacy Policy