Former President Donald Trump has recently expressed support for making senior citizens' Social Security payments tax-free, stating via his Truth Social platform, "Seniors should not pay tax on Social Security." This marks the first time Trump has floated such a policy proposal, although he did not provide further details on how it would be implemented.
In the past, Trump has mentioned the possibility of cutting entitlements, but his spokesperson has reassured that he will continue to protect Social Security and Medicare. Currently, about 40% of Social Security recipients must pay federal income taxes on their benefits if they have other substantial income in addition to their benefits.
Concerns about the availability of Medicare and Social Security benefits have been on the rise among adults in the U.S. A Gallup poll released in June found that 75% of adults age 65 and younger are worried about the lack of Medicare availability, while 80% are concerned about Social Security benefits. These percentages have increased from a previous poll conducted in 2022.
The West Health-Gallup 2024 Survey on Aging in America, which polled 5,149 adults 18 and older between November 2023 and January 2024, provided insights into these concerns. The federal government spent $2.2 trillion on Social Security and Medicare in 2023, out of $3.8 trillion in mandatory spending.
Overall, Trump's proposal to make Social Security payments tax-free for seniors has sparked discussion and debate, especially in light of growing concerns about the future availability of these benefits. As the issue continues to be a significant focus for many Americans, the conversation around entitlement programs like Social Security and Medicare is likely to persist.