When did Democrats get in such a big hurry to divert tax money from the social security fund into the private sector? Weren’t they up in arms when Bush suggested people should be able to invest their payroll tax into their own retirement accounts? The Democrats constantly argued that if people had the ability to invest their money in the private sector, it would be open to risks and might not be there for them in the future. I guarantee that if the money goes directly back to people it will be spent and certainly won’t be there for them in the future.
Was Bush’s only mistake that he didn’t offer the money directly to the taxpayer as a middle class tax cut to spend on whatever they chose? Invest it if you want, spend it if you want, it’s up to you. Because apparently it is your money, and you earned every penny.
How has this become “a tax issue” instead of a “harming social security issue?”
The main problem I see with the payroll tax cut is not that people shouldn’t be able to do what they want with their money. It has more to do with the fact that we made a committment to those at or near the retirement age who already rely on social security. The amount of money being cut is not going to make much difference to those getting the refund, but it is likely to hurt those nearing retirment age. Social security was designed as a perpetual system of transferring income from the young to the old.
If Paul Ryan was a villain to the left for attempting to preserve medicare for seniors and those soon to retire over the age of 55 with no changes, what exactly does that make Barack Obama for trying to divert social security funds when seniors are counting on that money being there?
Are we certain there aren’t any other taxes we could cut instead of the payroll tax?