Social Security Changes Proposed by President-Elect Donald Trump Could Be Bad News for Retirees, According to a Recent Report

In November, Republican presidential nominee Donald Trump won a decisive victory over Democratic rival Kamala Harris. With Trump officially returning to the White House for a second term, many retired workers on Social Security are undoubtedly hoping he can bring about much-needed change.Trump during his campaign wrote on social media, "Seniors should not pay taxes on Social Security." He also promised during his campaign not to cut benefits, and to "fight for and protect Social Security" as president. I have no doubt that Trump (like presidents before him) has good intentions, but he has provided few specific details.Importantly, the Committee for a Responsible Federal Budget, a nonpartisan and nonprofit organization, argues the changes proposed by Trump could actually be bad news for Social Security recipients. Specifically, they could widen the program's funding deficit and hasten the timeline to benefit cuts. Read on to learn more.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool