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[madfloridian]

23. Actually if that cut continued it would change the very nature of Social Security..

as self-funding.

From last year, several links:

Payroll tax cuts "rob the poor to feed the rich"...will harm those already on Social Security.

From Nancy Altman of Social Security Works:

"Given that the present Congress is unwilling to roll back the Bush tax cuts and raise even a nickel in additional taxes from millionaires," she says, "it's hard to believe that a more conservative Congress, in an election year, will increase the payroll tax from 4.2 to 6.2 percent — a 30 percent increase — on the very first dollar earned by virtually every single worker in the country." She thinks the cut could well become permanent.

If that happens, Social Security’s long-term shortfall could double over 75 years, she says, and political pressure to downsize the program could mount. That could lead to converting Social Security from a universal insurance program to a welfare program, with the numerous drawbacks of programs for the poor, including low public support. If this scenario unfolds, says Altman, "it's good-bye, Social Security."