Understanding Social Security and Trump's Reforms

What is the main issue facing Social Security according to the video?

• Insufficient funding

• Lack of public interest

• Too many beneficiaries

• Excessive government control

What was one of the cost-cutting measures implemented by Trump's administration?

• Reducing the SSA workforce

• Increasing the retirement age

• Eliminating Social Security benefits

• Raising payroll taxes

What is the role of the Department of Government Efficiency?

• To eliminate Social Security

• To increase Social Security benefits

• To raise taxes

• To streamline federal operations

What was a popular tax proposal by Trump regarding Social Security?

• Reducing payroll taxes

• Introducing a new Social Security tax

• Increasing taxes on Social Security benefits

• Eliminating federal income taxes on Social Security benefits

What could be a consequence of eliminating taxes on Social Security benefits?

• More government revenue

• Trust fund insolvency by 2031

• Increased Social Security benefits

• Higher retirement age

Which of the following is a proposed solution to increase Social Security funding?

• Reducing Social Security benefits

• Lowering the retirement age

• Raising the payroll tax rate

• Cutting government spending

What is one suggestion for taxing high earners to support Social Security?

• Eliminating payroll taxes

• Applying payroll taxes to income over $400,000

• Increasing taxes on all income levels

• Reducing taxes for high earners

What is a major obstacle in reforming Social Security?

• Too many beneficiaries

• Lack of public awareness

• Insufficient data

• Political disagreements

What advice is given to individuals regarding Social Security?

• Rely solely on Social Security for retirement

• Ignore political debates

• Avoid discussing Social Security with family

• Stay informed and plan for retirement

What is the potential impact of not addressing Social Security's funding issues?

• Increased benefits for all

• More government control

• Automatic benefit cuts

• Higher taxes for everyone