Trump will eliminate the payroll tax, which he has already started to do by deferring taxes until next year with a promise if he is reelected they would be eliminated. Disability Insurance would run out in 2021 and Social Security in 2023. 64% of Americans are not prepared for retirement. 1 in 5 Seniors depend on Social Security for 90% of their family income. In July 2020, 61.6 million received Social Security, 5.4 million received Disability Insurance and 2.7 million received both. Half of US households 55 and older have nothing saved for retirement. 64% are expected to retire with less than $10K savings. Seniors would have their purchasing power greatly decreased: they would have to work longer, or go back to work. Travel industry, automobile market, housing market would all be affected. Please make everyone you know aware of this. Republicans and Democrats need to know. This is not a joke!
Disclaimer: As submitted to the Arizona Daily Star.
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