Yes, Trump's Proposed Permanent Tax Cut Would Gut Social Security By 2023

Source: Forbes - View Original Article
Published: Sep 03, 2020
Category:
Bias Rating:

54% Liberal


Bias Score Calculation:

This article includes the following sentiments, providing an average bias score of 54% Liberal:

  • 3 positive sentiments and 1 negative sentiment for Social Security Privatization.


Policies:

Social Security Privatization

Sentiments

  •   Liberal
  •   Conservative
70% "Now, Trump has said that Social Security wouldn't fail and that it is possible to fund it different ways, like out of general revenues.""
66% "In answer to an August 19, 2020 letter from four Democratic senators, Chief Actuary Stephen Goss laid out a scenario that made two major ..."
65% "In calendar year 2019, Social Security took in $1,061.8 billion and spent (mostly in benefits payments) $1,059.3 billion, leaving a positive balance of $2.5 ..."
-77% "If Trump got his way with a permanent payroll tax cut and there was no replacement source of revenue, Social Security would be out ..."


*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization

Extremely
Liberal

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Moderate-left

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Moderate-right

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Conservative

100%

100%

Contributing sentiments towards policy:

70% : Now, Trump has said that Social Security wouldn't fail and that it is possible to fund it different ways, like out of general revenues.
66% : In answer to an August 19, 2020 letter from four Democratic senators, Chief Actuary Stephen Goss laid out a scenario that made two major assumptions: Congress would authorize a permanent end to the dedicated payroll taxes that fund Social Security and no other provision would be made to replace the income stream, such as transfers of funds from the Treasury. As a reminder, Federal Insurance Contributions Act (FICA) payroll taxes go into the Old Age and Survivors Insurance (OASI)
65% : In calendar year 2019, Social Security took in $1,061.8 billion and spent (mostly in benefits payments) $1,059.3 billion, leaving a positive balance of $2.5 billion for the period.
23% : If Trump got his way with a permanent payroll tax cut and there was no replacement source of revenue, Social Security would be out of money by the middle of 2023.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization

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