The Republican budget proposal for 2024, now available online, recommends that the retirement age for Social Security be increased and benefits cut. The Republicans claim it would not affect people presently on Social Security or presently near retirement. This is necessary, they say, because the system will run out of money by 2035 (which it will, according to the Social Security Board of Trustees).

In 2024, payments into the Social Security system are curtailed when an earner passes $168,600 in annual income. If that earner makes, say a $1 million this year, she/he only has to pay on the first 16.6% of it. In this writer’s opinion, this is simply a gift to the high earners, otherwise known as the rich. But to increase this substantially would certainly annoy that group, and that group is the cream of the political donor class. The Republicans do not want to do that, of course, so they will simply cut benefits instead.

Many Republicans, including Donald Trump, Sen. Rick Scott, Sen. Mike Lee, Sen. John Thune, Rep. Steve Scalise and many others, have all made the case for slashing benefits, raising the age for earners to participate, or simply getting rid of Social Security altogether. And Medicare would be their next target.

Should the Republicans capture the White House, the Senate and the House of Representatives in November, we can be sure they will do as they have publicized.

Bob Rossow
East Machias

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