Trump plans would decimate Social Security in just 6 years: new study

Social Security could be drained of cash in just six years if Donald Trump becomes president in 2025, a report by the Committee for a Responsible Federal Budget warned Monday.

The nonpartisan group concluded Trump’s stated plans for his next administration would speed up the fund becoming insolvent.

Kamala Harris’ policies, it found, would have an negligible effect on the future of Social Security.

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“I can’t think of anything that would be this order of magnitude,” said the group's senior policy director, Marc Goldwein, about the perceived effect a Trump presidency would have.

Among the Trump policies that concern the committee are promises that Social Security recipients would pay no federal income tax on their benefits. Currently, 40 percent of beneficiaries pay taxes, which go directly back to fund Social Security.

The report estimates that plan alone would cost $1 trillion over 10 years.

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Deporting undocumented immigrants, many of which have payroll taxes taken from their wages, would cost millions of dollars, the report said, while plans to put tariffs on imports could also hurt Social Security.

Not taxing tips would also hurt funding for Social Security, with the report estimating a cost of between $150 million to $1 trillion over 10 years.

“All added up, the report forecasts that Social Security under Trump would hit the point where by law it must cut benefits in 2031 or 2032,” the Washington Post reported.

Both Trump and Harris have promised to protect Social Security, but the Post said neither has shared a comprehensive plan.

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