Key Points President Trump wants to eliminate taxes on Social Security. His plan has a major flaw that needs to be accounted for. It’s unclear as to whether his idea will get broad lawmaker support. Are you ahead,

On Friday, as Elon Musk was calling Social Security “the biggest Ponzi scheme of all time,” the Social Security Administration announced 7,000 job cuts and a restructuring plan that will cripple the agency’s ability to serve the more than 70 million people who receive benefits each month.

President Donald Trump was sworn into office on Jan. 20, and he has already embarked on an ambitious agenda. With the Trump administration attempting to make significant spending cuts, many retirees might be wondering what the 47th president's plans are for Social Security,