A recent poll by Monmouth University shows that most Americans back Donald Trump’s plan to eliminate income taxes on Social Security, tips, and overtime payments.
This proposal, which played a key role in Trump’s 2024 presidential campaign, seeks to ease the financial strain on retirees and working Americans.
Why This Matters?
Social Security benefits are essential for millions of people in the United States. However, many recipients face federal income taxes on their benefits, depending on their total income. The Social Security Administration (SSA) outlines how this works:
- For single filers: Those earning $25,000 to $34,000 annually are taxed on 50% of their benefits, while incomes over $34,000 are taxed on 85%.
- For couples filing jointly: Combined incomes between $32,000 and $44,000 are taxed on 50% of benefits, with incomes above $44,000 taxed on up to 85%.
By removing these taxes, Trump’s plan aims to help middle-income retirees and working individuals who rely on Social Security as a vital source of income.
Public Opinion
Monmouth University conducted its poll from December 5 to December 10, surveying 1,006 adults aged 18 and older. The results revealed significant support for Trump’s proposal:
- 66% of respondents backed eliminating income taxes on Social Security, tips, and overtime.
- Only 21% opposed the plan, with the rest undecided.
Trump has repeatedly expressed his commitment to this idea. In a Truth Social post, he wrote: “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!”
The idea also resonated during the 2024 presidential campaign. According to an October ABC News/Ipsos poll:
- 85% of respondents supported Trump’s plan.
- 55% strongly supported it, making it the most popular economic proposal of the campaign.
Challenges of Implementation
Despite its popularity, the proposal raises questions about its long-term financial impact. Experts point out that eliminating taxes on Social Security income could create challenges for government revenue.
The Tax Foundation estimates that:
- $1.4 trillion in tax revenue could be lost between 2025 and 2034.
- This revenue loss could accelerate the insolvency of the Social Security trust funds, already projected to be depleted by 2034.
However, the policy could provide immediate financial relief. The Tax Foundation noted that all income groups would experience a small 0.9% increase in after-tax income, helping retirees and workers in the short term.
Political and Public Reactions
Patrick Murray, director of the Monmouth University Polling Institute, highlighted the enthusiasm surrounding Trump’s proposal:
“Republicans are even more enthusiastic about a second Trump term than they were the first time around. They are particularly looking forward to him following through on the plans he promised.”
Supporters argue that the plan would deliver much-needed relief for seniors and working Americans. Critics, however, worry about how the government will offset the revenue loss without creating additional financial risks for Social Security’s future.
What Comes Next?
Trump’s proposal has undoubtedly struck a chord with voters, but its feasibility remains uncertain. Policymakers must address concerns about the potential financial consequences.
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