Don’t Eat the Marshmallow!
Don’t Eat the Marshmallow! Recently, Donald Trump proposed cutting the Social Security tax currently applied to 50% of benefits for individuals earning over $34,000 or couples earning over $44,000. This is a mistake. Social Security benefits are already scheduled to be reduced by $16,500 annually by 2033. Trump’s proposed tax cut could accelerate that reduction to 2032. Here’s why this is a bad idea: 1. Delayed Gratification and Long-Term Investment For several years, I taught a leadership class at a high school in Pennsylvania. One of the favorite lessons was based on the book Don’t Eat the Marshmallow Yet! by Joachim de Posada. The book references an experiment in Colombia, where preschoolers were tested for their ability to delay gratification. The children who could wait for a larger reward later in life often went on to experience greater success as adults. The core lesson is clear: instant gratification can often come at the cost of much greater long-term rewards. Social S...