General Discussion
In reply to the discussion: Please stop repeating false Republican talking points! [View all]izquierdista
(11,689 posts)There's a reason that FICA is a separate itemized payroll deduction, and why it shouldn't be commingled with the income tax funded General Fund.
What gets me is how this whole topic is being viewed ass-backwards, with the Defenders of Social Security (Democrats) playing fast and loose with the "Lockbox", and the LetThemEatCake bunch (Republicans) suddenly worried about seniors. Something doesn't smell right, be the wind from the left or the right.
In my view, the net result here is to take the dysfunction that is afflicting the General Fund/Income Tax budget and infect an actuarially sound Social Security trust fund. If this 'payroll tax cut' goes on for too long, then Social Security WILL look sick, maybe even to the point that removing the FICA cap will not fix it. If the Democrats let it get to that point, then the Republicans will have won and Social Security will be as worthless as old Soviet pensions are in modern Russia.
Bottom line, I want to see payroll taxes back to where they need to be to support a healthy Social Security. But in order for that to happen, we need to get the economy back on its feet, which won't happen until the Bush tax cuts are not only obliterated, but recouped by a "top 1% surtax".