President Joe Biden and President-elect Donald Trump share at least two things in common when it comes to Social Security. They've both been eligible to receive their full retirement benefits for more than a decade.

As David R. Lurie lays out in his excellent Public Notice column, Republicans have been dreaming of doing away with Social Security ever since FDR enacted it, even though it successfully reduced poverty among the elderly. Ditto for Medicare, enacted under LBJ.

Chip Roy believes Trump doesn't actually want to cut from Social Security and other essential benefits on which Americans rely.

In November, more than 51 million retired-worker beneficiaries brought home an average Social Security check of $1,925.46. Though this is a relatively modest payout from America's leading social program,

Social Security is the U.S. government's biggest program; as of June 30, 2024, about 67.9 million people, or one in five Americans, collected Social Security benefits. This year, we're seeing

President-elect Donald Trump plans to eliminate taxation of Social Security benefits, which could speed up the program's projected date of insolvency.

In summary, President-elect Donald Trump has proposed eliminating the tax on Social Security benefits. He has also proposed ending the taxation of tips and overtime pay, while imposing a baseline 10% tariff on all imported goods and a 60% tariff on imports from China.