quote:In support of the ever expanding social programs
Just like to point out...
Until this year, Social Security has always paid its own way. More coming in than going out.
IF that surplus had been reserved to pay out only for SS benefits, instead of helping cover-up a portion of the excessive spending done over the years, SS would have ZERO problems.
Name one other government program that has managed to pay its own way over the years. You can't.
Yet now the spin masters are labeling SS an 'entitlement expenditure', and will be trying to put it at the top of the chopping block list.
Just removing the cut-off point for the SS payroll tax would provide more than enough additional funds to make it secure for the foreseeable future. As it is, in relation to total income, the SS 'burden' falls more heavily on all of us that earn less than $106,800.00 than it does on those earning more - those who are arguably able to afford the additional tax.
As I am on the subject, anyone still think it would have been a good idea to have put our SS funds into the stock market?
Larry