Obama’s Payroll Tax Cut Defunds Social Security
Obama is now 40 minutes late for an appearance on extending the payroll tax cut extension. I have a question, and I’ve asked this question on previous occasions. If, as the liberals say, there is a Social Security trust fund — and if it is funded, as the liberals say, by direct payroll tax deductions…?
In fact, folks, Social Security is funded by only one thing, payroll taxes, FICA. That’s the only way Social Security is funded. So the question then begins: “How does Obama get away with arguing that we need to cut payroll taxes that cut Social Security funding so that individuals have a thousand dollars, but then he also gets to claim to defend Social Security, which he is depleting by his own logic?” Extending the payroll tax cut depletes the Social Security trust fund. For those of you seasoned citizens, you have to understand the language. The payroll tax cut is “cutting taxes” paid into the only mechanism that funds Social Security.
It’s the Republicans that always want to “cut” Social Security; it’s the Republicans always want to kick seasoned citizens out of their houses, but here’s Obama, 40 minutes late now to a speech where he’s gonna lobby for an extension of payroll tax cut — and you notice how the Drive-Bys completely ignore this hypocrisy, and liberal Democrats completely ignore this hypocrisy, and notice how the Republicans incapable of making this point. The Republican leadership goes along with it because it’s a “tax cut,” and it puts money in the pockets of voters. It’s about a thousand dollars. The payroll tax cut is said to add $1000. But it’s been in place for a year, and it has not stimulated the economy. So, why are we gonna extend it? Why this tax?