[WilliamIII]

it is a DEFUNDING of Social Security.

No, it’s a lowering of the payroll tax. Your money is taken from your paycheck and spent. It doesn’t go into a “trust fund” for your retirement. Social Security is a Ponzi scheme. And the payroll tax is a tax like any other tax. If you want to pay more taxes, be my guest. I for one am glad that payroll taxes will be somewhat lower so I can save more of my own money.

[vaudine]

Yes, I know that the payroll taxes that are supposed to go into the SS "trust fund" that isn't, do not actually get into a lock box. However, payroll taxes are paid in to fund SS. Yes, you get to keep a few dollars of your money from FICA; however the money to pay SS recipients has to come from somewhere; so if you buy a house or refinance, about the same amount comes into the govt. from you as a fee on mortgage ins. There will not be enough coming in, as the number buying and refinancing will not equate to the number working and contributing through FICA. Therefore, the mortgage fee will creep up and other "fees" will be found to bring in more money.

If you think this admin. and the Dems intend to let us actually have more of our own money, think again.

Low income will probably be exempt or get subsidized, so working peeple making much above minimum wage will be funding this redistribution in several ways that will make us long for the FICA tax again.

vaudine

[Eagle of Liberty]

They ARE defunding SS. Our system is currently putting out more in SS payments than it is taking in. The payroll tax cut dropped the SS’s only revenue stream. And as you can see, they admitted that their first bill was defunding the current system at a faster pace that they created another SS revenue stream with this bill.