Trump says he may cut income tax 'completely' because of tariff income

[Karma13612]

43. How do you fund social security then?

Not all income tax can go away. You need to tax income to feed the Social Security Fund.

And no, I don’t accept that just keeping more of our money in our pockets will guarantee us enuf money saved to build our own retirements. Unless you take the time to teach everyone how to save, and provide better safer saving ‘instruments” for our retirement money.

The Stock market was never the answer. There is no interest on regular savings accounts anymore. CD’s are OK but those have also faced shrinkage of interest rates. I think that after a certain age, they shouldn’t be allowed to tax the pre-tax money you set aside. And there shouldn’t be a required minimum distribution starting at a certain age. I’m torn between taking the money out which means it sits in a low/no interest savings or CD. I need to maximize what’s in there so I don’t face destitution and will need the money for a nursing home.

At 71, I’ve seen it all, and tried various methods. They all suck. I’m in a money market fund now. Moved from the stock market after 3 serious crashes since 2000. Not again. Did it the week after Trump was re-elected. Yea, I’ve missed some highs now, but my money is stable and I get a small bit of interest every month. My balance isn’t going up and down like a yoyo.