Trump Pick Puts Social Security in Crosshairs

Trump cabinet pick planning radical steps to fix Social Security… Future benefits possibly at risk… Here’s what every American should know…


Peter Reagan, February 7, 2017

You probably already know it: Social Security is in dire straits. Currently, the program at risk of facing a major shortfall as soon as 2034, which means that receiving benefits in the future is far from a sure thing – even for today’s middle-age workers.

To fix the program, dramatic changes must happen now.

It’s with this urgency that President Trump has nominated Mick Mulvaney to run the Office of Management and Budget (OMB). While we don’t know for sure what fixes Mulvaney will apply, most would burden all taxpayers and beneficiaries.

Here are three discussed changes that could affect all Americans:

Option #1: Cut Social Security benefits.

Previously, Trump has said that cuts to payouts are off the table. But in a Senate confirmation hearing, Mulvaney indicated otherwise.

According to the Wall Street Journal, Mulvaney told the Senate that he would advocate for cuts to benefits, adding…

“I have to imagine that the president knew what he was getting when he asked me to fill this role.”

It isn’t hard to read between the lines. In 2009, Mulvaney called Social Security a ‘ponzi scheme’ and insisted the program as we know it should be brought to an end. Chances are slim his views are drastically different today.

Option #2: Increase Social Security taxes.

In 2016, every American paid 12.4% of their income under $118,500 to Social Security. Now, Mulvaney has the power to adjust that cap.

Already, the SSA announced the cap would increase by 7% in 2017. But Mulvaney is willing to push the cap higher. During his confirmation hearings, he declared that his pledge as a congressman to oppose tax increases would not extend to his service in the OMB.

Option #3: Raise the retirement age.

Today, the age at which Americans can receive full benefits for Social Security is set to increase to 67 for anyone born after 1960. But further increases aren’t out of the question.

So even if Social Security stays solvent, the length of time Americans can draw off the program during retirement could shrink significantly.

Asked if he believed that the age limit should be further adjusted, Mulvaney replied with a simple, “I do, yes sir.”

If Not Social Security, What CAN You Count On?

Regardless of what happens over the next decade, the long-term prognosis for Social Security doesn’t inspire confidence. And counting on the program for a comfortable retirement is a gamble, to say the least.

That’s why thousands of Americans have been moving their retirement savings into gold, an asset that will ALWAYS have value, and which the government can’t simply change the rules on.

While you still can: Get a FREE Info Kit on Gold, and the IRS Tax Law to legally move your IRA or 401(k) to precious metals.

Get your no-cost info kit on gold here. There is ZERO cost and ZERO obligation to you – we’ll even pay for shipping.

This comprehensive, 16-page “insider’s” Kit on gold reveals precisely how this IRS Tax Law works, and how you can start moving your IRA or 401(k) as soon as today… without paying any taxes on the transfer. It’s all explained in this free info kit on gold.

Remember, no matter what happens to Social Security, gold is a time-tested and proven way to protect your savings through good times and bad. To get started, click here to get this free info to protect your savings.


RELATED CONTENT

Trump Just Shared These 11 Words of Warning for the USD and Gold

Trump Just Shared These 11 Words of Warning for the USD and Gold

Barack Just Lost It Over Alan Greenspan's Warning for Owning Gold

Millions to be Hit Hard by this U.S. Scheme to Confiscate Your Savings

Move Your IRA or 401k to Gold

IRS Tax “Loophole”: Move Your IRA or 401(k) to Gold
Get this No-Cost Info Kit

  • hcool

    It should not change for the worse for people who are on it or close. Too late to plan.

  • down

    I have been a Trump supporter. However, I am on Social Security Disability, and you better damn well NOT lower any benefits. We baby-boomers paid in all that money, and you OWE it to us. Period.

  • randy jackson

    More Fake News.
    The social security discussed by the Trump Administration is that which is paid to illegal aliens.
    I’m all for stopping every single penny of that.
    SS to illegals was another way for demonRATS to get votes.
    Stop letting BS articles like this distract your attention.
    Likewise do not feel threatened.
    BS Fake BS News—-all BS

  • Ah nutz

    the left loves to freak people on this ….Trump has pledged to protect us legitimate recipients..only illegals need worry = go home.

  • dan k.

    Take illegals off social security coffer’s .Leave Americans alone..We can get increases,,also stop the thieft of monies ,for other projects.

  • Athanasios1

    How about taking away social security benefits form immigrants and 3rd generation welfare blacks ?

  • Warren

    There is only the Right way to fix Social Security we were forced into contributing 15% of all our earnings for apx 45 Years claiming it was our Retirement Fund instead of investing those Funds the Federal Government used it as their Personal Piggy Bank Dished Trillions out to People that never paid into it also used it for anything they desired without our permission Government Employees are exempt from Soc Sec their Retirement Funds collected the Highest interest & could not be Raided Now they say they the Money is gone you can bet they won’t say where it went as they are crooks.Then they say we have Entitlements like Welfare that is paid to the Majority of people that have never Worked a Day in their Life,Social Security is a Ponzi Scam When initiated in 1935 the average Lifespan of a Man was 59.9 in 1949 65.2 the age set for retirement so they only expected half of Retirees to live long enough to collect and the rest was Play Money but they got way carried away with with the Ponzi Game So the answer is quit giving away to illegals Refugees other countries The U.N. Federal Employee Benefits make them Pay into Social Security if that is not enough let them Pool their Money for an additional Fund without any Guarantees . Then use that Money to Pay Back the Citizens they Stole from !!!

  • kassa1

    The communist Democrats and there are allies in the media have used humanism to go and give people who did not pay into the system money and give illegals money and this is people drawing from something they never put into. This makes the Democrat party again nothing but thieves and robbers liars and deceivers hiding behind humanism to propel their agenda