I Think I'm Gonna Throw Up Now...

[ieoeja]

15. People actually want the payroll tax holiday to continue?

Prior to this thread I would have sworn reading more DUers complain that it should never have been passed than that it was ending. I thought that tax holiday had fairly universal opposition. Clearly I was wrong.

I am sticking to that position anyway. They payroll tax holiday cut funding for Social Security. Yes, we replaced that cut to Social Security with money from the General Fund. But in doing so we conflated the two funds for the first time. That was a dangerous precedent.

The argument that Social Security has nothing whatsoever to do with the deficit is no longer 100% accurate. A very tiny portion of Social Security is now part of our national debt. So small as to be meaningless, but it is now there.

The payroll tax holiday was stupid. In fact, if I wanted to undermine Social Security, I would probably start by getting rid of the payroll tax altogether and just pay for it out of the General Fund. That would pretty much kill Social Security, and this payroll tax holiday was a step in that direction.

And you people support this?