Social Security tax deduction means less money for trust fund

To the Editor;

If you are part of the 20 percent of Penobscot County residents who are 65 or older, I expect you will embrace the new, temporary federal income tax deduction for seniors in President Donald Trump’s tax and spending bill.

But keep this in mind. Federal income taxes on Social Security benefits are deposited in the Social Security trust fund. By reducing those taxes, Trump’s bill reduces revenue to the trust fund and draws closer the day it will become insolvent.

As the economic truism goes, there is no such thing as a free lunch.

Bob Lain

Nobleboro