While most lawmakers tend to avoid proposing changes to Social Security, presidential candidates don't have this luxury. Despite previously aiming to steer clear of Social Security policy proposals, Trump did suggest making a major change to America's leading retirement program while on the campaign trail.

As David R. Lurie lays out in his excellent Public Notice column, Republicans have been dreaming of doing away with Social Security ever since FDR enacted it, even though it successfully reduced poverty among the elderly. Ditto for Medicare, enacted under LBJ.

Trump’s proposal to cut Social Security taxes highlights the ongoing debate about the program’s complexities. While some recipients could benefit from tax-free benefits, eliminating taxes could further accelerate the program’s insolvency, which would impact millions of Americans.