Payroll Tax Cut Could End Social Security

Investor's Business Daily ^ | 12/22/2011 | David Hogberg

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Washington is engaging in a game of chicken over the payroll tax holiday, but this likely won't be the last time Congress and the White House try to extend it. Some say it will become a "permanently temporary" feature of American politics. And the consequences could be dramatic.

"We could be having this conversation 15 years from now and talking about how President Obama, as a Democrat, was the president that started the path to killing Social Security," said Jason Fichtner, a senior fellow at the libertarian Mercatus Center.

[SusaninOhio]

YES! Finally another person makes the connection. The same 2% Payroll Tax Cut exemption, money that is basically thrown away (or spend on lattes), is the very same 2% that President Bush was crucified for trying to make available for ‘private’ investment, for those who cared to.

THAT 2% was going to DESTROY Social Security, said the Dems, and put retirees in the street - but deliberately not collecting it, that’s ok -

WHY DON’T the Republicans in COngress or the Republican candidates mention this fact? Why won’t anyone?

Don’t forget the additional tax on mortgages and refis that is going to ‘replace’ this tax cut. The tax cut won’t help unemployed or retirees, but the tax added to morgages will impact them.

Great.

[cookcounty]

Herman Cain rightly saw that SS will have to be paid out of the general fund, and in fact, it already largely is. That’s why he wanted to abolish both the employer payroll tax and the employee payroll tax......back to 9-9-9, with or without Herman.

Taxes on labor are just crazy.

[ballplayer]

Im tired of ranting against the Hapless Republicans,they are completely incompetent.
There was one reason and one reason only to extend this farce for 2 months,the Keystone Pipeline, as part of this bill in 2 months(coincidence right?)the decision is to be made to build it or not,Obama does NOT want to make a decision on this until after the next election as to not alienate one of his big Contributors,the unions who want the jobs and the Enviornmentalist who dont want it.
Right now the Democrats are filming all the Sob stories about how if people dont get this tax cut they are going to starve to death so in two months when the Republicans say Mr. Obama make a decision to build this for the Oil we need ,the Democrats will trot out all the Sob stories and say these mean lousy stinkin Republicans are going to starve the poor by holding their Tax cut hostage for that lousy filthy oil. Bohener and Cantor and the rest of the Eunuchs in the Republican party already have the speech written to cave.