Forbes: Is Trump Using Next Stimulus Package To Undermine Funding Of Social Security And Medicare?

In 2011, when President Obama and a Republican Congress compromised on a temporary 2 percent payroll tax holiday, the left-leaning Institute on Taxation and Economic Policy (ITEP), calculated that 48 percent of the benefits went to the richest 20 percent of taxpayers, which is problematic if you are trying to help low- and middle-income households.

ITEP published a forecast earlier this year, when Trump first raised the notion of a payroll tax cut, showing that eliminating the 7.65 tax on just employees between April 1 and December 31, 2020 would cost $355 billion with an even bigger percentage of benefits, 47 percent, reaped by the richest 20 percent of taxpayers. Read more