If you look past to my Payroll Tax posts of last December and listen to what's going on in Congress right now, you'll find that I hit this one right on the head. Both sides of the aisle are claiming that we cannot afford a TAX INCREASE while the economy is still fragile. Well, if you hadn't cut the Payroll Tax last year, you wouldn't be in this mess!!
Social Security is intended to be a self funded benefit. Until now, it has been. Keeping the Payroll Tax artificially low to "stimulate" the economy is not the answer to our problems.
I argued against reducing the Payroll Tax last year, and I oppose extending this ill advised reduction this year.
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