But it is a Tax.
I’m so damned tired of people trying to make out like it is. They are the REQUIRED contributions to Social Security and Medicare - NOT FEDERAL TAXES.
So then are taxes now "contributions" and not taxes???
Are they not collected by the FEDERAL GOVERNMENT???
Get Real. You are sounding like Nancy Pelosi.
Not hardly. SHE is one of the ones that purport that it IS a tax just like income tax. It is still not, regardless of your assumptions. It may be wasted, taken away and used for general fund uses, but it is not supposed to be. Why do you think GORE talked about the infamous lock box? They are talking out of both sides of their mouths - making "payroll taxers" think they are paying income taxes whilst simultaneously trying to make them think their payments to SS and Medicare are sequestered. I know real, it may be an 'effective' tax, but that's not what it was set up to be. And, helping these people think they are contributing to something is BS.
Look on your paycheck. Your SS payments are classifed under OASDI (Old Age, and Survivor Disability Insurance) payments along with the Medicare percentage payments that are covered under the Federal Insurance CONTRIBUTIONS Act.