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posted by daveb in Politics

Defunding social security. It's not risky if you call it a tax cut.

February 17, 2012

Remember when politicians ran around fear mongering the elderly about how dangerous it would be to let younger workers divert a portion of social security contributions into private retirement accounts? "TOO RISKY!"

The same politicians just voted to cut the social security contributions rate by 2% for ALL workers of any age. I guess the real risk of private accounts is that they divert money that politicians could use as "tax cuts" to buy votes with. So much for Gore's "lock box" idea.

The comical part of this shell game charade is that the masses haven't yet figured out that while the Pres was de-funding social security to garner a tax cut photo-op the $800 per family make work pay credit was allowed to expire, and health care insurance is no longer deductible against social security taxes for the self employed. Net result is a tax increase for millions of small business owners.

Question for the politicians: Do families who receive earned income credit refunds greater than their current payroll contributions also get a 2% cut in the taxes they weren't paying in the first place? How does that work?

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