Over at e21, Chuck Blahous – of the Hoover Institution and a public trustee of the Social Security program – argues that the payroll tax cut undermines Social Security in a wide variety of ways. Check it out here.
Friday, February 17, 2012
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The payroll tax cut holiday does not undermine Social Security. What actually undermined Social Security was it was not designed to work, had not blue print to determine the correct revenues needed to pay a non defined SS-OASI benefit.
Social Security has been patched together since 1937 starting with a payroll tax of just 2% when at least 6% was required. The payroll tax did not reach 7% until 1968. So now we have a writer who thinks the reduction in payroll tax by 2% is undermining Social Security. I think he is about 75 years too late and places blame on workers who in reality should be able to opt out of Social Security.
If Obamacare is ruled unconstitutional, why would Social Security be considered Constitutional? Why should anyone be forced to "buy" insurance whether government or private of any kind?
What the payroll tax cut does in return stolen wages to the worker.
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