Donald Trump's plan for Social Security will benefit millions of Americans - but it could come back to bite them

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Donald Trump's plan for Social Security will benefit millions of Americans - but it could come back to bite them

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Millions of Americans will be waiting to see if Donald Trump follows through on his campaign promise to cut taxes on Social Security benefits. Higher earners would benefit the most from the proposed changes, experts have said, and the cut would come at a price for the struggling finances of the Social Security program. Up to 85 percent of Social Security benefits may be taxed based on an individual's or married couple's income - and around 40 percent of retirees currently pay federal tax on their benefits.
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