Trump vows to ‘protect’ Social Security
In August, President Trump signed an executive measure creating a Social Security payroll tax holiday.
This allows employers to defer workers’ portion of the Social Security payroll tax — 6.2 percent on wages up to $137,700 — to be temporarily suspended from Sept. 1 to Dec. 31. This only applies to workers making less than about $100,000 annually.
Trump, however, floated forgiving that deferred tax.
“If I’m victorious on Nov. 3, I plan to forgive these taxes and make permanent cuts to the payroll tax,” Trump said in the CNBC report.
On Medicare, both Trump and Biden want to reduce prescription drug costs, although their approaches differ
Apart from supporting the Affordable Care Act (ACA), Biden said he wants Americans to enroll in Medicare starting 60 years old instead of 65. The program would cover dental, vision, and hearing, all of which are currently excluded.
Biden’s plan also seeks to reduce the cost of prescription drugs for Medicare beneficiaries by, for instance, allowing the government to negotiate those prices. This is currently prohibited by law.
Trump, on the other hand, took several measures to reduce the cost of prescription drugs, including lifting “gag orders” on pharmacists that prohibited them from telling patients there was a cheaper option for their prescriptions.
In a speech, Trump also said he wants to send $200 payment cards to some individuals on the senior health care program to help pay for drugs.
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