Trump's proposals could reshape Social Security and impact retirees

President-elect Donald Trump may propose changes to Social Security that could impact retirees. One idea is to eliminate taxes on Social Security benefits, which could increase short-term benefits but risk faster depletion of trust funds, leading to future cuts. Another proposal involves removing income tax on tips and overtime pay. While this could help workers now, it would reduce payroll tax income, further threatening Social Security funding and potentially lowering future retirement benefits. Trump has also suggested restricting immigration and raising tariffs on imports. These actions could decrease the number of contributors to Social Security, impacting funding. They may also lead to higher costs and inflation, affecting benefit adjustments.