Backtalk DICK MORRIS / GUEST COLUMNIST


Affordability Must Be Key to Trump’s Agenda


A


s president donald trump circles the globe making deals with the European Union and Japan for trillions of investment dollars in the U.S., he must do more for the average


American family. While they all applaud his huge successes in trade negotiations, many feel left out and do not see any change in their daily financial struggles. As the midterm elections approach, polling suggests big Trump gains but highlight that he has done little to bring elderly voters into his coalition. While the president gained in


every age group, he did not move up among voters over 65. Three key steps could jump-start a


surge among the elderly for Trump: 1: Increase cost-of-living adjust-


ment. The Social Security Administra-


Credit card companies are charging interest rates on delinquent cards over 20%. During the campaign, Trump proposed capping these


rates at 10%. Currently, 7% of credit cards in the U.S. are delin-


People won’t sell their homes for


quent. With total credit card debt now at $1.2 trillion, this def- icit would come to about $80 billion. To charge interest rates over 10%


fear of losing their profits to capital


tion (SSA) is expected to announce a 2.6% cost-of-living increase in ben- efits for 2026, one of the smallest in recent history. With Trump announcing trillions in trade conces-


gains taxes, causing sharp limitations in the stock of homes available.


sions from the EU and Japan, such a tiny increase is bound to draw criticism. The SSA projects that about $1.6 trillion in Social


Security benefits will be paid to nearly 69 million Ameri- cans in 2025, an increase from the previous year due to a 2.5% cost-of-living adjustment (COLA). This total includes payments to retired workers, survi-


vors, and disabled individuals, with the average monthly benefit for a retired worker estimated to be around $1,976 after COLA. A 2.6% raise would only mean about $50 per recipient,


a tiny amount. The president should infuse Social Security with suf-


ficient new funding to bring this year’s COLA to 10%, at a cost of about $150 billion. He could secure the funding from the proceeds of the


trillions of promised increased investments from the EU and Japan. 2: Cap delinquent credit card interest at 10%.


110 NEWSMAX | NOVEMBER 2025


burdens cardholders and is already cutting into car sales and other retail costs. 3: Update capital gains exemp-


tion from sales of private homes to account for inflation. The cut in capital gains taxes


under then-President Bill Clinton had a magical impact on govern- ment finances, swelling revenues by increasing the pace of sales even as the rate was cut. Today, with homes no longer exempt from capital gains taxes if


the profits from those sales exceed $250,000 for single fil- ers or $500,000 for joint filers, we face a dearth of homes available and an escalating problem of homelessness. The profit limitation was passed in 1997 and has not


been adjusted for inflation since. People won’t sell their homes for fear of losing their profits to capital gains taxes, causing sharp limitations in the stock of homes available. Since 1997, home prices have increased by a cumula-


tive level of 119%. We must update the exemption levels to reflect infla-


tion to stimulate the supply of housing. Together, these proposals will make a real impact on elderly incomes and spread our nation’s rising prosperity to our elderly.


Dick Morris is a former presidential adviser, political strategist, and regular contributor to Newsmax TV. His new bestseller, The Real Charlie Kirk, is available at bookstores everywhere. See FREE offer: Charlie911.com


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