Romney Campaign Boxes Itself In On Outsourcing, Offshoring Debate
Tuesday, June 26, 2012
Read Social Security Payroll Tax Cut -- A Temporary Stimulus With Permanent Damage by Charles Blahous.
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.“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."
"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.”
-Jason Fichtner
Former Social Security Administration Deputy Commissioner
Read the Article at HuffingtonPost
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