Donald Trump’s latest tax scam is his most dangerous yet. Based on an executive order, the Internal Revenue Service (IRS) will suspend collecting Social Security payroll tax from workers earning less than $4,000 every two weeks, or $104,000 per year. More than one million federal employees will automatically see this change in their September paychecks, while private sector employers will have the option to participate. These workers will see their take-home pay rise by 6.2 percent until the end of the year.

But like many of Donald Trump’s financial dealings, this is nothing more than a bait and switch for workers that will end up costing them even more down the road.

In May, I wrote that no one should be fooled by Donald Trump’s then-proposed payroll tax cut. It was simply a back door to slashing Social Security benefits down the road. His administration’s new policy is far more dangerous. It is not a back-door attack on Social Security, but instead a full-frontal assault on the financial well-being of working people and the programs they rely on.