Monday, April 17, 2017
From 4.17 Show Rush limbaugh-- A Revolutionary Idea for Tax Reform Is Percolating, Big Soc Security Changes?
Okay. Let me give you a little hint. I want you to think about something. Imagine tax reform, a tax reform plan that eliminates FICA, that eliminates the payroll tax, which is the primary funding mechanism for Social Security. Imagine a tax reform plan that does away with that. That is a 12.6% tax elimination from everybody. Everybody pays it, even people that don’t pay income tax pay payroll tax.
Rush: White House is exploring new directions on tax reform. And one of the interesting things I ran across, it wasn’t really obscure, but it didn’t stand out. It wasn’t highlighted or heralded anywhere else. I found it actually in the AP feed that there is a possibility the Trump White House is considering using tax reform as an opportunity to get in there and do something about entitlements.
Now, if you go back to the campaign, Trump made a big deal now and then out of the necessity of reforming our entitlements, that they’re out of control, many of them are redundant, they’re taking up way too much of the budget, and somebody needs to go in there and do an analysis and trim them down and fix them. Otherwise serious budget reform is gonna be hard to do, but nobody has ever been able to come up with a way to do it because entitlement reform requires somebody reforming Social Security, and whenever anybody suggests doing that, they’re cooked. They’re done.