Thread: General Politics More republicans vs. the middle class
View Single Post
Old 12-05-2011, 12:54 PM   #14
patteeu patteeu is offline
The 23rd Pillar
 
patteeu's Avatar
 

Join Date: Sep 2002
Casino cash: $5000
Quote:
Originally Posted by Royal Fanatic View Post
This column ignores the fact that for several decades the Social Security payroll taxes collected far more money than was paid out in benefits. The extra money went into the general fund and was used to mask the true size of the deficit, and worthless IOUs were given to the Social Security trust fund. At the end of 2010, the accumulated surplus stood at $2.6 Trillion, but that's just an accounting fiction since Congress gleefully spent all of that money on other things. Everybody knew that money that was collected for Social Security was being pumped into the general fund.

I have to agree with the Dems on this issue. The public overpaid their payroll taxes for decades, and it didn't do them any good. Maybe it's time to cash in some of those IOUs.
The public didn't overpay payroll taxes for decades. The fact that what they did pay was funneled out the back door into other government programs doesn't change that.

Quote:
Originally Posted by Royal Fanatic View Post
If you're going to argue that the Bush tax cuts must be retained, it's hypocritical to argue that the Obama payroll tax cuts must be allowed to expire. Class warfare works both ways.
Please. That's not hypocrisy for people who believe we should flatten our tax rate structure.
__________________


"I'll see you guys in New York." ISIS Caliph Abu Bakr al-Baghdadi to US military personnel upon his release from US custody at Camp Bucca in Iraq during Obama's first year in office.
Posts: 75,744
patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.
  Reply With Quote