Payroll Tax Cut Fight: Mitch McConnell Says House Should Pass Two-Month Extension (UPDATE)

“The staunchest supporters of Social Security are those pushing the hardest to cut the program's chief financing stream—the payroll tax. Severing the link between payroll taxes and benefits means beneficiar­ies could no longer claim they ‘earned’ their Social Security benefits. This would erode future support for this vital program."

-Jason Fichtner
Former Social Security Administra­tion Deputy Commission­er

And Charles Blahous, who currently serves as one of the two public trustees for the Social Security and Medicare Programs, says:

“Social Security was not establishe­d to be a source of ‘temporary­’ stimulus funds. The idea that its payroll tax rate should be moved up and down with economic events is highly dangerous to the program’s financial future.

"If Congress continues to cut the program’s funding source, one of two things must happen: 1) Social Security’s insolvency will be accelerate­d; or 2) Social Security will have to increasing­ly rely on general revenues (i.e., income taxes) to pay beneficiar­ies.”

Read Social Security Payroll Tax Cut -- A Temporary Stimulus With Permanent Damage by Charles Blahous.
Read the Article at HuffingtonPost