Donald Trump's plan to not to tax overtime or tips will only HURT the Social Security Fund. Retirees can expect the Social Security trust fund to run out of money even sooner if Trump successfully eliminates taxes on benefits. Such a move will require deeper benefits cuts once the trust fund's assets are depleted because it will have less revenue coming in. So, seniors are facing the potential of a much bigger burden on their household budgets, a depleted fund will force reduced benefits. That will hit low-income households which rely on Social Security benefits much harder.