The headline is a little misleading in some aspects but not entirely off the mark.
Trump has proposed eliminating taxes on tips and Social Security benefits, and has also said he would think about exemptions for firefighters, police and military personnel.
I think taxing Social Security benefits is one of the dumbest moves imaginable because these are for people not in the work force and aimed at those retiring!
The breakdown of the 93 million is as follows
- Roughly 68 million Americans receive Social Security benefits each month,
- Roughly 4 million workers in tipped jobs
- Roughly 18.6 million living veterans
- 1.3 million active-duty military personnel
- 800,000 sworn law enforcement officers and roughly 500,000 paid firefighters
This 93.2 million total excludes people who in the proposal wouldn’t be taxed on overtime as well…
Do I think this would happen at least these next 4 years factoring in a Trump win… highly doubtful but I think there are some great ideas starting with Social Security benefits being taxed and military/first responders being taxed. There should be some sort of exception to lower hits to the jobs we need people in. Lower taxes would certainly help with that!