President Donald Trump vowed to eliminate income taxes on Social Security benefits, a policy shift that experts warn would spell disaster for the welfare savings of the nation’s youngest, including those not yet born.
Slashing the income tax on Social Security would reduce revenues by $1.5 trillion over a decade and increase the federal debt by 7% by 2054, according to a study produced by the Penn Wharton Budget Model, a nonpartisan, research-based initiative at the University of Pennsylvania.
