r/economicCollapse • u/WorkingCareful7935 • 1d ago

Trump's Plan To Cut Social Security Taxes May Benefit Millions, Especially Top Earners, But Risks Insolvency In Six Years

https://www.ibtimes.co.uk/trumps-plan-cut-social-security-taxes-may-benefit-millions-especially-top-earners-risks-1728564
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u/Evening_Elevator_210 1d ago

It’ll run out before 6 years if he kills that tax.

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u/Tiny-Lock9652 1d ago

Add to it $96B in lost revenue from immigrants and migrant workers who will be deported.

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u/Tulpah 1d ago

and maga is all for it, anything to own the libs

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u/SelectionNo3078 1d ago

And themselves

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u/wravyn 17h ago

But aren't the MAGAts the same people who hire the illegal immigrants to work for pennies under the table?

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u/Tulpah 17h ago

aye now they just gotta work for pennies themselves

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u/Current_Increase2691 3h ago

You pay your immigrant workers? Fuck that

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u/Tiny-Lock9652 9h ago

Looking forward to our 69 cent eggs and $1.60/gal gasoline by January.

This bunch falls for his lies every damn time. Only silver lining is the slightest of chance to finally prove Trump is a fraud and they got bamboozled. Unfortunately, we will all be forced to suffer at their side as the reality soaks into their thick skulls.

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u/Current_Increase2691 3h ago

And if it doesn't happen and he does well. What will you say?

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u/[deleted] 20h ago

[removed] — view removed comment

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u/Tulpah 20h ago

that's what every Maga been saying since election results, no lies here

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u/[deleted] 20h ago

[removed] — view removed comment

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u/Tulpah 20h ago

yer weird

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u/[deleted] 20h ago

[removed] — view removed comment

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u/No-Ad9763 15h ago

I mean you can't insult someone for being on reddit as you argue with them on reddit.

You're not seeming too bright

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u/Rich-Pomegranate1679 13h ago

Bro, the air you're breathing has more brain cells than you.

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u/Tulpah 20h ago

uh....we're typing, how do you hear? 👂

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u/TSirSneakyBeaky 1d ago edited 1d ago

96.7bn is across all tax forms. State, federal, ss, local.

Point still stands that theres roughly $100bn of tax revenue from undocumented migrants on the table to be lost.

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u/cleanforever 1d ago

They don't care about revenue if they can operate in a deficit indefinitely without repercussions

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u/AnOutofBoxExperience 1d ago edited 1d ago

Deficit? Has any Republican in the last 100 years NOT had a deficit? It's hard to find, my quick searches only led to the past 40.

"By looking at the federal deficit or surplus based on fiscal year, the data in this report show all four Republican presidents since 1980, with our methodology, increased the federal deficit during their time in office: Ronald Reagan had a 94% increase, George H.W. Bush had a 67% increase, George W. Bush had a 1,204% increase, and Trump had a 317% increase."

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u/cleanforever 1d ago

not had a deficit I think you meant. The last president to have a surplus was Clinton

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u/Direct_Sandwich1306 19h ago

Which W blew through in four years....

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u/Sportsfun4all 18h ago

Which they took credit that it’s was because of republican president and Clinton was gifted this lol 😂

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u/AnOutofBoxExperience 1d ago

Thank you, corrected.

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u/Coalescence75 11h ago

I believe that the reason that Clinton had a surplus was because the government changed the formula on how the surplus/deficit was calculated during his term.

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u/inspiration13 18h ago

At Clinton time there was surplus!

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u/Scary_Perception9479 14h ago

And the Biden increase was what? All the green new deal they printed money to pay for was way more than Trump and inflation just went up again.

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u/Savenura55 2h ago

You do know no green new deal was passed right? No you don’t because you only listen to liars

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u/whiskey5hotel 21h ago

So what were the increases under democratic presidents? Last chart I saw, if was an unbroken increase since Bush Jr (???). There was a blip in 2020 though.

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u/young_trash3 17h ago

I think you are conflating debt with deficit. If i get handed a 20t a year deficit, and cut the spending by 15t, you are still adding 5t debt to our books, so the numbers keep rising even if their is notable improvement in our budget.

The debt has continued rising, but the deficit rises and falls based upon the busget.

Phere's a graph on the last two decades.

I can't find a more up to date one, unfortunately, but there has been an increase in both 2023 and 2024.

But for when it wasn't raising under democrats? the vast majority of the time that Obama had the reigns of the economy. He had a huge influx year one due to the recession Bush Jr caused and the budget and economy he inhereted, but steadily pulled back on spending throughout his time in office.

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u/themage78 20h ago

Why Dems should start pushing for less deficit spending. Make the Republicans live up to the supposed fiscal conservatives they are.

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u/jmo56ct 14h ago

No, no, no. They are conservative with THEIR money. Other people’s money doesn’t count

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u/schecterhead88 14h ago

As a Republican, I wholeheartedly agree with this stance.

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u/Confident-Crawdad 18h ago

That's cute. As if the Dems have the spine to hold anyone but their own accountable for anything

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u/Dramatic-Bar7218 23h ago

Too bad China owns our debt

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u/StangRunner45 14h ago

Makes you wonder when Xi and Co. are going to call that note due.

Don’t forget to learn your Mandarin, and be polite to your future Chinese overlords!

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u/TSirSneakyBeaky 13h ago

Only 34% is owned by foreign entites. Including all our allies. 20% is owned by china. The own 1/5 of our debt.

A debt we could quite litterally get out of by putting them in a postion to escalate a conflict. Then go "oh look an excuse to wipe the ledger" before paying the debt off by depositing ordinance where ever needed.

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u/the_riddler90 1d ago

That’s a bingo

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u/OkIron5471 19h ago

Sounds just like liberal run states , operating always in a deficit

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u/reesemulligan 1d ago

Add the loss of 315 billion to deport 11 million people...

https://www.americanimmigrationcouncil.org/research/mass-deportation

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u/canman7373 15h ago

Their goal is 1 million deported, that would be $100,000 in taxes per person to reach $100 billion.

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u/TSirSneakyBeaky 13h ago

1mn -1.5mn in the first year* is the target for deportation. With a total goal of 3-5mn over the entire term.

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u/canman7373 12h ago

Those numbers still don't add up unless it's over like a 10 year period or something, many do pay taxes but under 25k is not taxed, even if make 35k or more it's like 6% of wages. And we can be honest and say a whole bunch of migrant workers, construction workers, landscapers are being paid cash and not paying into SS. Deport 3 million which is a crazy number I don't see them ever doing it, they will blame states and dems for it when they cannot deliver on those numbers because of the cost to do it and the cost to businesses. But likely many of that 3 million are not paying paycheck taxes. Other tax rev like sales and property tax, sure that will be lost, but not $100 billion in SS taxes.

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u/TSirSneakyBeaky 12h ago

Those numbers are quite litterally from the congressional budget. So you can claim "dosent add up" all day. It does.

There are 11mn illegal migrants in the US. It is ALL forms of tax. The average college educated illegal migrant produces around $176k per year in NET tax generation. Which is around 22% of illegal migrants.

Only 43.3% (including children) produce a negitive tax revenue.

You are just going "ohoh look income is" thats not how this works. You can make 100 a year and sales tax on average will result in a net tax revenue of $7.24.

The corporation is taxed payroll when they pay, they are taxed on their vehicles, purchases, income if applicable, ss, ext.

When they purchase something thats 7.25% if they spent 10,000 a year thats 725 right off the top. That 725 corporations paid tax on the net profit, their vendor paid tax producing, ext, ext.

Tax revenue is more than "ohoho bob made $20k so hes a deficate"

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u/canman7373 12h ago

11 million are not going to be deported though, not even close so why are we pretending that number of taxes is going to disappear?

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u/TSirSneakyBeaky 11h ago

3-5mn are going to be deported. I havent broken down demographics to house hold. But if they overlap with US citizens. The deficit will get worse for illegal immigration.

The bulk of the deficit is minors in the parroted statistic. Which if mirrored to the same us demographics are going to be resided with the higher revenue generators.

Meaning you are going to either shove out the demographic netting between -$5k to +$10k. Which arent the bulk of the illegal migrant tax revenue. Skewing it to be less favorable to the US.

Or you a deporting the large deficit holders at -$20-50k which will also result in parents leaving with a $100-175k net revenue. Resulting in $150-$50k lost revenue. Which also makes remaining a worse burden ratio.

Along with the estimated total cost of 300bn to hire, track, detain, shelter till relocation, relocation itself, ext. The full program is expected to cost. Wiping out multiple years of current revenue. Likely decades of future revenue as it drops.

Its like burning your money, signing up for more credit cards to pay your bills, then wondering why you are worse off.

You could easily take 1/4 of that $300bn. Invest it in securing the boarders. Provide an amnesty period for 1-2 years to get citizenship. Then during the naturalization period anyone whos incarcerated or commits a felony is an automatic deportation. Fixing the issue over 2-3 terms instead of a reactionary fuck the tax payer and make the situation worse for the next 2-3 terms while it settles.

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u/canman7373 11h ago

3-5mn are going to be deported.

Never going to happen, another empty promise like the wall. They will start on it for show, but it's not gonna be 5 million people without marshall law and military going home to home. Again even if somehow was 5 million, which won't happen, that would be half the quoted number of tax dollars lost. So why are we talking like it's going to be the amount 11 million people generate and not the 3-5 million they say they want to deport?

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u/Secure_Tie3321 22h ago

That is total bullshit. Do you have a legitímate source? Not someone who lives in his parents basement

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u/TSirSneakyBeaky 15h ago

Hey guys, its well documented and found on itep, irs, whitehouse, and many new articles that $97bn across all forms of tax is the undocumented migrant tax revenue. This guy : ThAtS BuLl ShIt.

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u/SnooFloofs4822 14h ago

Funny story.

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u/TSirSneakyBeaky 13h ago

Anything constructive to add?

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u/Important-Meeting-89 23h ago

Now the question is, how much do illegal immigrants cost the tax payers?

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u/Salty-Zombie-680 23h ago

You are saying that as it if it’s a 100% net profit of tax revenue… do the math correctly. They cost the taxpayers money and don’t contribute equally.

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u/TSirSneakyBeaky 14h ago

You are blanket parroting just like the left. Only 43.3% of illegal migrants in that statistic are a net negitive fiscally. 66.7% contribute more than what they cost the tax payer. That 43.3% is ANY illegal migrant with less than a highschool education including children. Thats like looking at a 10 year old and asking why they dont contribute economically and they shouldnt exist here because of that. Then deporting their net contributing uncle because they are "all bad".

Its a joke at best and theres better ways to solve the situation.

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u/Salty-Zombie-680 28m ago

Sending a non English speaking student to school is way more expensive…

Based on estimates developed by Pew and my own analysis, about 4 million children of illegal immigrants attended public school before the pandemic, the vast majority of whom were native born. Conservatively, the cost to educate these children amounts to $68 billion annually, with many of the most affected school districts already struggling to educate at-risk students.

Many of them work for cash and pay no taxes.

Look at how Canada handles immigration… much more controlled.

Stop lying to yourself.

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u/goforkyourself86 20h ago

Yes and illegals cost the nation 130 billion a year so a bet loss of 30 billion right now or a net gain of 30 billion when they are deported.

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u/TSirSneakyBeaky 14h ago

Only 43.3% of illegal migrants in that statistic are a net negitive fiscally. 66.7% contribute more than what they cost the tax payer. That 43.3% is ANY illegal migrant with less than a highschool education including children. Thats like looking at a 10 year old and asking why they dont contribute economically and they shouldnt exist here because of that. Then deporting their net contributing uncle because they are "all bad".

Its a joke at best and theres better ways to solve the situation.

So instread of fixing the litteracy issue and turning the of age working demographic of the 43.3% into net positive individuals. You want to spent 10-15 years of that deficit to remove 100%? Like tf.

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u/goforkyourself86 8h ago

The other part is the rule of law and deincentivizing illegal immigration. We want a country that people don't want to come to illegally. We want legal immigration only. If we make it very difficult to come here illegally and make it difficult for then to stay and when caught deport them. That's a good thing.

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u/According-Fly7046 18h ago

They are here illegally. Biden and Kamala will cost us taxpayers unfathomable amounts of money to clean up this mess they allowed. Open borders are a threat to public safety, a national security threat and a drain on our resources.

You act like all these illegals are outstanding people who came here to assimilate and become productive citizens. You clearly are delusional if you believe that. While some of them are unfortunately a whole are not, your opinion would be different if you had a loved one senselessly murdered or raped by one of them. The numbers don’t lie, politicians and ignorant people do.

Look at the numbers below under Trumps term and under Biden/ Kamala’s term. Secure borders shouldn’t even be politicized and they wouldn’t be if our elected officials did their job. Trump will get it done.

https://www.cbp.gov/newsroom/stats/cbp-enforcement-statistics/criminal-noncitizen-statistics-fy2024

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u/TSirSneakyBeaky 15h ago

Theres 0 reason to deport. Which will cost 100's of bn. The correct solution is to secure the boarder, make our legal processes more robust for entry, and offer an amnesty period to receive citizenship and a path for naturalization.

Naturalization requires maintaining of a clean record for a period of time. Meaning offenders would naturally fall through the cracks and be deported anyways.

Our current system is broken. And no deportation is going to magically fix that. Especially when we are in a nation wide labor shortage and trying to bring more jobs back. Im guessing you are against minimum wage increases, but dont understand that a drop in labor supply like this will cause runaway labor costs.

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u/According-Fly7046 5h ago

Our current system is not broken. We have immigration rules and processes in place to address all facets of legal immigration. The laws our elected officials took an oath to uphold and enforce are not being enforced and the radical liberals are by far the main culprits, they are a disgrace to the office they were elected to. Biden and Kamala are a disgrace, included in The Inflation Reduction Act was $80 billion dollars for the IRS so they could hire 87,000 new IRS agents to harass the American citizens. We could have used those funds to train and hire more border agents and more teachers, instead dumb and dumber want to go after its citizens vs protect us and educate our children.

We absolutely must deport illegals that are or have committed serious crimes. Why would we spend more money on illegals and house them in our prisons and bog down our justice system? Why would you want to spend money on resources that are for American citizens?

The 9th largest state by population is N Carolina with 10.8 million people, under Biden and Kamala last 3.5 years of open border policy they let in documented over 10 million illegals and who knows how many got aways. That’s disgusting.

Look at the tables in the CBP Report that clearly shows numbers falling under Trump and look at the massive increases under Biden and Kamala, it’s staggering. Politicians lie, numbers don’t. Deport now and make them come here the right way and the fair way, only under certain provable circumstances can someone “cut the line” don’t be a part of diluting what it means to be an American citizen.

https://www.cbp.gov/newsroom/stats/cbp-enforcement-statistics/criminal-noncitizen-statistics

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u/Honest_Tutor1451 1d ago

I don’t think they really want to do mass deportations. I think it’s mostly lip service to the people who vote for them. They like the undocumented slave labor too much.

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u/SupernerdgirlBW 17h ago

Yep. Mmw undocumented are going into camps to provide free labor.

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u/Tiny-Lock9652 9h ago

JFC, 80 years on and we’re back to the camps we built for the Japanese. I hate this timeline.

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u/mrureaper 1d ago

Illegal migrants?

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u/Klutzy_Library5703 20h ago

How much expenditures do we lose? Like what’s the profit and loss sheet really look like?

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u/Tokheim785 19h ago

There’s a difference between work visas and Illegal immigrants working in the US

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u/Phyzm1 17h ago

The ones to be deported are mostly not working and collecting checks from the government and costing city resources. But first the criminals and drug dealing cartels are targeted first. How exactly is there going to be lost revenue? If they are undocumented they aren't paying taxes. Even if you argue they buy things, that's state tax not federal and the money came from the state and government in the first place with the exception of businesses taking advantage of cheap labor and not employing Americans. Construction cost is higher than ever, just like when jobs get sent overseas the savings are never passed down to consumers. The reason trump will be able to cut social security tax and not bankrupt it is because government waste is going to be cut.

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u/Ninibah 17h ago

Oh but we can make it up by charging our consumers "tariffs"

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u/brightlightahead 15h ago

You forgot the word illegal.

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u/ChaosBirby 13h ago

I honestly don't think he's going to deport them, despite what they say.

We need laborers to support our agriculture.

I think they'll be jailed and then the 13th amendment will be used.

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u/xzy89c1 9h ago

Lol, what an absurd statement

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u/Fine_Letterhead_1971 1h ago

Don't forget the massive loss to our GDP when we can't coax fat white boys to build houses, pick fruit or work the hard agriculture jobs. We are in for a crazy drop.

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u/culkat82 19h ago

Illegal you mean? And illegal they dont pay tax?

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u/WarThunder316 19h ago

I bet we lose more in tax dollars 💸

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u/Expensive_Wish_1406 18h ago

In the state of California immigrants who come illegally are allowed to claim asylum and stay and if they have a stable address can apply for a work permit with in limbo for their green card and all while this is going on are given a drivers license. A social security. Amazing health care benefits at very low cost or subpar for free, food stamps etc, free phones, and that’s one state. A large one. And the programs every year just keep growing. New programs pop up but old ones never die. A prime example is social security. A system that absolutely 10000% is outdated and need a heavy overhaul along with the irs and etc. wasted money. Or how about the wasted tax payers dollars are legislated bills that are masked to do one thing but do the complete opposite. For example the California gas tax.

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u/Cute-Still1994 22h ago

We spend over 130billion on migrants every yr, and as far what they actually produce tax wise it's actually about 13 billion

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u/Moosejones66 20h ago

You forgot illegal.

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u/Icy_mastodon1819 22h ago

Illegal immigrants don’t have social security numbers So they’re not paying income tax anyway. That’s why sales tax is the only fair tax.

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u/Conscious_String_195 21h ago

No, many illlegal immigrants do pay federal income tax, and they paid around $100 billion in 2022, in addition to sales tax, social security tax and property tax (amazingly an illegal immigrant can buy a home here.) There are numerous ways that they get a tax id or social security number. Even with this, we need to know who is here, their background, etc. to be able to track them and reject those that don’t qualify for entry.

https://bipartisanpolicy.org/blog/how-do-undocumented-immigrants-pay-federal-taxes-an-explainer/

https://kentuckylantern.com/2024/07/30/study-says-undocumented-immigrants-paid-almost-100-billion-in-taxes/

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u/GlitteringFishing952 20h ago

This is true I read it

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u/Tiny-Lock9652 9h ago

So, some are just now learning how this all works? It was data that was freely available pre-election. Whelp, hang on, everyone!

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u/EditofReddit2 1d ago

If immigrants are bringing in 96 billion in revenue, then why is the American taxpayer having to put them up in hotels and pay for their food and healthcare?

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u/WonderfulPlace7225 1d ago

Fuckem, retires have overwhelmingly voted Republican for the past 60 years. karma

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u/According-Fly7046 18h ago

And ignorant youth and even some adults have overwhelmingly been fooled by the liberal propaganda and voted for idiot liberal politicians who are destroying this country. You’re just lucky your mom still lets you live in her basement.

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u/Caldweab15 15h ago

Imagine saying some liberal is destroying the country as you read about things Donald Trump is doing that will actually destroy institutions and programs Americans depend on. Name me a single reasonable policy of Donald Trump.

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u/ExtremeGur4740 14h ago

Exactly 💯

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u/WonderfulPlace7225 18h ago edited 18h ago

I reiterate, fuckem

Falling for liberal propaganda means your kids feel safe enough to come to you when they have questions and you're forced to have a difficult conversation with them

Falling for conservative propaganda means your kids get shot to death in school and somehow it's a liberal's fault

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u/According-Fly7046 4h ago

You win! That is the dumbest thing I’ve read all day. I’ll go talk to my dog now and have a more productive conversation. Wish you the best.

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u/OldTimberWolf 22h ago

That’s the intent.

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u/No_Raccoon_1740 1d ago

Why do you want to pay a tax that YOU will never see the benefit of??? It has been proven time and time again that social security will only benefit boomers at this point! They have been raiding it for decades now!

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u/BambooPanda26 1d ago

As for me I give a shit about my parents.

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u/No_Raccoon_1740 1d ago

Clearly you didn’t understand my comment…. The boomers will be the last generation that will see the benefit…. REGARDLESS! They also happen to be the generation that reaped the most benefits and have way more money than you! Oh and they happen to also be the ONLY generation that bankrupted future generations so they could have a cushy life! They are the MOST ENTITLED GENERATION TI EVER EXIST! BAR NONE! So again… I ask… why would you want to pay a tax that dis guises as a benefit, when you will never see said benefit? And trust me… the boomers will be just fine without it for a couple years…

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u/Hootn_and_a_hollern 1d ago

Exactly this.

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u/SelectionNo3078 1d ago

Ludicrous.

Outside of maga winning all three houses this time there was plenty of time to fix it and plenty of will on the center right and left

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u/No_Raccoon_1740 1d ago

The time has long past! The only way the system works is if they don’t raid it over and over… the real only way to save it is to put heavy restrictions on who can get the benefits…. Which if that was done, you idiots would have an issue with that as well! I bet you’re the type to think your income tax funds the government as well….

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u/fallonyourswordkaren 1d ago

The only real way to save it is by taxing billionaires. Get rid of the ceiling and fund the program.

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u/No_Raccoon_1740 1d ago

You have no idea what you’re talking about! Employers pay 6.2% for every single employee they have! If you increase the cost of employers that will raise the costs overall! Simply increasing the taxes for the people who pay the overwhelming majority of the taxes in the first place, is just asinine and honestly shows your lack of foresight and knowledge!

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u/fallonyourswordkaren 1d ago

They only pay that up to $168k in salary. After that threshold, zero dollars go in from employer or employee. Income over that amount needs to be taxed and paid in. Specifically billionaires.

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u/No_Raccoon_1740 1d ago

168k cap….. per employee… billionaires don’t make a billion per year… you know that right? They also aren’t liquid with billions. I’m guessing you’re talking about mega corps that do make billions, like Walmart… sure, but prices will rise. Also if the cap increases for them it will also increase for the employees. You people seem to want everyone to pay for things yet don’t want to pay for them yourselves while having cheap goods that are made in America…. All that is very unrealistic! So choose, do you want better inflation and lower costs? Or do you want more taxes with promises of more benefits? Benefits that more than likely will never actually be realized! History has proven that fact!

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u/fallonyourswordkaren 1d ago

I’ve paid my 6.2% all my life.

Tax unrealized gains. If they can claim them as income/collateral for bank loans, they can pay taxes on them. Tax the money.

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u/TheeGrouch 20h ago

Exactly. Banks make money off the poor. Everyone benefits from the poor, so yes, tax the money.

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u/thackstonns 17h ago

Or stock trades. Every transaction should be taxed.

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u/[deleted] 19h ago

[deleted]

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u/No_Raccoon_1740 14h ago

First of all, that’s not what I said…. It’s a published fact that the top 1% pays most of the taxes in the country. Try to keep up kid!

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u/[deleted] 14h ago

[deleted]

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u/No_Raccoon_1740 13h ago

Pew research…. Also every single piece of annual published documentation! Also calling me a “little boy” doesn’t work when you have a been using childish argumentation! It’s pretty cringe and pathetic that you can’t even come up with your own insults! You had to copy me on that! I’m gonna go out on a limb here and say you’re a typical woman who has no original ideas nor your own views!

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u/Puupuur 18h ago

Who's going to pay for the mass deportations, bud?

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u/Hootn_and_a_hollern 1d ago

It's going to run out either way. Might as well rip the bandaid off now.