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The Beginning of the End of Social Security As We Know It
posted at February 19, 2012 3:40 PM EST
First: November 27, 2011
Last: May 18, 2013
LATimes Payroll tax cut undermines Social Security's security
Very interesting article -
Now why did our Representatives in Washington decide to do it THIS way??
Not that I am not grateful since my kids (daughter and son-in-law) who both make over $ 110,100 a year will get this $ 2,200 tax break EACH - That is $ 4,400 for their family. Others don't get that much.
So at the end of this year, whomever has to reinstate this tax will have some decisions to make - should it go back into the SS fund or will this 2% be diverted for younger workers into some private, "individualized" accounts with a host of other tax reform legislation.
Very interesting article, indeed.