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FAILURE TO EXTEND "TAX CUT" INTO 2012 IS GOOD FOR SOCIAL SECURITY.
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Government & Elections
FAILURE TO EXTEND "TAX CUT" INTO 2012 IS GOOD FOR SOCIAL SECURITY.
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The so called tax cut due to expire 12/31/2011 was really a raid on the Social Security Trust Fund. The tax decrease was on the Social Security withholding, not on federal income tax. This
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Cat:d51398b3-89f9-463d-bf1b-4b885f02c9eeForum:af978875-5bc6-4b07-a6fb-b18062132f95Discussion:58fd46f0-c7ab-4e15-9ce3-9fa29e5523a8
Forums » Politics & Society » Government & Elections » FAILURE TO EXTEND "TAX CUT" INTO 2012 IS GOOD FOR SOCIAL SECURITY.
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FAILURE TO EXTEND "TAX CUT" INTO 2012 IS GOOD FOR SOCIAL SECURITY.
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FAILURE TO EXTEND "TAX CUT" INTO 2012 IS GOOD FOR SOCIAL SECURITY.
posted at December 21, 2011 3:43 PM EST
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Posts: 1
First: December 21, 2011 Last: December 21, 2011 |
The so called tax cut due to expire 12/31/2011 was really a raid on the Social Security Trust Fund. The tax decrease was on the Social Security withholding, not on federal income tax. This was a devious and cynical scheme to give the appearance of a tax cut but, in reality, to steal the funds from Social Security. Have you heard anyone on Capitol Hill say how these lost funds would be restored to the trust fund? With Social Security already paying out more than it is taking in, this stupid short sighted scheme will just weaken and exacerbate future funding problems. Instead of addressing the fixes needed to keep Social Security solvent, this diminished stream of income will only hasten a crises. A real tax cut would have required cutting the income tax. But that would have show up immediately as an increase in deficit spending. So don't be fooled. This was just a sneaky way to claim they were cutting taxes, when in reality, they wer rainding the Social Security Trust Fund to pay for it. |
Forums » Politics & Society » Government & Elections » FAILURE TO EXTEND "TAX CUT" INTO 2012 IS GOOD FOR SOCIAL SECURITY.
