GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.

These brands compensate us to advertise their products in ads across our site.

This compensation may impact how and where products appear on this site.

Mandatory Credit: Photo by Gripas Yuri/ABACA/Shutterstock (14364013b)Republican presidential candidate and former US President Donald Trump attends the Conservative Political Action Conference (CPAC) annual meeting in National Harbor, Maryland on February 24, 2024.

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.

you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.

On July 31, Trump wrote on Truth Social that seniors should not pay tax on Social Security.

facebook sharing button

Who Would Really Benefit From This?

According to Orestis, not everyone would benefit from Trumps proposed tax break.

In essence, this is a tax break for the rich paid for by workers.

twitter sharing button

The political will for either party to enact a tax cut like this does not exist, he said.

This is really not much more than political fodder.

[Its]not a serious tax cut proposalfor seniors with any chance of being enacted.

linkedin sharing button

More From GOBankingRates

Share This Article:

The Latest inTaxes

email sharing button