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The Troubling Disconnect: $4.5 Trillion in Taxes Proposed, Yet Social Security Remains Neglected

The Joe Biden administration has set forth an ambitious fiscal agenda, proposing a staggering $4.5 trillion in new taxes.

However, the striking omission from this colossal proposal is any provision to shore up Social Security, a fundamental pillar of financial stability for millions of Americans as reported by CBS News on November 5.

This revelation raises significant concerns about the future of this critical program and the welfare of its beneficiaries.

In a recent congressional exchange, it was highlighted that despite the immense tax proposals put forward, not a single dime is allocated to bolster Social Security.

This oversight, as revealed during the exchange, has dire consequences.

It has been estimated that every individual reliant on Social Security stands to suffer a 24% decrease in their benefits within nine years if corrective measures are not taken.

The question that naturally arises is whether President Biden is aware of the impending crisis.

Under current law, when Social Security exhausts its funds in nine years, a 24% cut in benefits for current recipients is an unavoidable reality.

The President has publicly stated his commitment to preserving Social Security, but the glaring omission of funding in his tax proposals paints a conflicting picture.

While assurances are given that President Biden cares deeply about Social Security and stands ready to work with Congress, the absence of tangible plans to address the imminent funding shortfall is concerning.

A bipartisan group of senators has repeatedly requested meetings with the President to discuss the future of Social Security, particularly to prevent current beneficiaries from falling into poverty due to the impending benefit cuts.

Furthermore, there is a growing demand to shed light on how Social Security funding is allocated, especially concerning expenditures related to illegal immigrants.

A detailed breakdown of the financial impact of providing benefits to those who are not U.S. citizens is necessary for transparency and informed policy decisions.

The fundamental issue at the heart of this matter is the apparent lack of action in addressing Social Security’s impending crisis.

While political discourse is often dominated by special interests, it is vital to remember that Social Security impacts the lives of countless Americans, particularly the most vulnerable members of society.

The omission of Social Security from the $4.5 trillion tax proposals is a stark reminder of the disconnect between political rhetoric and concrete action.

The future of Social Security should be a top priority for lawmakers and the administration, and the beneficiaries of this program deserve a clear plan to ensure its long-term sustainability.

The revelation that $4.5 trillion in taxes has been proposed without a single dollar allocated for shoring up Social Security is a disheartening development.

It is high time that Social Security’s future is addressed with the urgency it deserves, and concrete plans are put in place to secure the financial well-being of its beneficiaries.

It is a matter of not just fiscal responsibility but also of empathy and care for those who rely on this vital safety net.

ASHLIE BLAKEY
ASHLIE BLAKEYhttps://tosbos.com/
Ashlie is a senior reporter for the TosBos News. She covers live and breaking news from 6 am every day. Ashlie joined the M.E.N. in 2019 having previously worked for Cavendish Press news agency.
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