Trump Wants to Take Your Social Security to Give Even More Money to Wall Street
Scott Bessent, Donald Trump’s Treasury Secretary, let the cat out of the bag when he said that their new “Trump Accounts” are intended as a backdoor way to privatize Social Security. Their idea is to get people to put money in these accounts beyond the $1,000 the government will give each newborn, so that they will be able to phase out or scrap Social Security. Your “Trump Account” will serve as a replacement.
This has been a longstanding dream among Republicans. They have hated Social Security ever since Franklin Roosevelt created it in 1935 and taxes started to be collected two years later. Now they think Donald Trump has finally given them the weapon needed for the program’s destruction.
