Speaking at an event hosted by right-wing news outlet Breitbart on Wednesday, Bessent described the president’s new “Trump accounts”—which offer a one-time $1,000 government contribution paid into a special account—as a “backdoor for privatizing Social Security.”
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iirc, #43’s scheme was to divert FICA tax revenue into new “personal accounts”, while benefits to current retirees would be covered by more borrowing.
Steve
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