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Tue Dec 20, 2011, 09:27 AM

Please stop repeating false Republican talking points! [View all]

The payroll tax cut is NOT affecting Social Security Trust fund. This is just one of many posts that have made this very clear, but somehow right here on DU the facts are blurred.

http://factcheck.org/2011/12/bachmann-wrong-on-social-security-jobs-debt/

"Shorting the Trust Fund?

Bachmann said she didn’t support last year’s payroll tax cut, because it took money from the Social Security trust fund and “put senior citizens at risk.” But that’s not true. The Social Security and Medicare Boards of Trustees said that the tax cut would have “no financial impact” on the trust fund."

"The Social Security and Medicare Boards of Trustees said in its 2011 report: “The loss of payroll tax revenue due to this one-year reduction will be made up by transfers from the General Fund of the Treasury to the OASI and DI Trust Funds and will thus have no financial impact on either program.”

The Congressional Budget Office estimated that the tax cut, passed in December 2010, would reduce Social Security revenues by about $115 billion in fiscal 2011 and 2012. Again, that shortfall will be covered by the general fund. The trust fund isn’t being “denied” any money, as Bachmann claimed.


We get enough crap from FOX news without repeating it on the DU.

Thanks for your attention to this matter.

PS. What ever happened to spell check?

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Reply Please stop repeating false Republican talking points! [View all]
rgbecker Dec 2011 OP
DCKit Dec 2011 #1
Cigar11 Dec 2011 #2
jtrockville Dec 2011 #3
surfdog Dec 2011 #11
jtrockville Dec 2011 #16
Enrique Dec 2011 #4
joeglow3 Dec 2011 #5
RC Dec 2011 #6
bornskeptic Dec 2011 #22
RC Dec 2011 #33
zipplewrath Dec 2011 #7
RUMMYisFROSTED Dec 2011 #8
Romulox Dec 2011 #9
yodermon Dec 2011 #12
Romulox Dec 2011 #13
yodermon Dec 2011 #17
Romulox Dec 2011 #19
Igel Dec 2011 #25
Yo_Mama Dec 2011 #37
izquierdista Dec 2011 #10
alc Dec 2011 #14
Laelth Dec 2011 #15
dawg Dec 2011 #18
doc03 Dec 2011 #20
NNN0LHI Dec 2011 #21
joeglow3 Dec 2011 #23
NNN0LHI Dec 2011 #24
joeglow3 Dec 2011 #40
NNN0LHI Dec 2011 #46
hfojvt Dec 2011 #26
rgbecker Dec 2011 #42
hfojvt Dec 2011 #43
rgbecker Dec 2011 #44
SunsetDreams Dec 2011 #50
great white snark Dec 2011 #52
hfojvt Dec 2011 #53
SunsetDreams Dec 2011 #49
hfojvt Dec 2011 #54
MjolnirTime Dec 2011 #27
deacon Dec 2011 #28
TheKentuckian Dec 2011 #29
NNN0LHI Dec 2011 #30
rgbecker Dec 2011 #31
NNN0LHI Dec 2011 #32
Yo_Mama Dec 2011 #34
bhikkhu Dec 2011 #45
Yo_Mama Dec 2011 #55
Hutzpa Dec 2011 #35
kentuck Dec 2011 #36
Yo_Mama Dec 2011 #38
Yo_Mama Dec 2011 #39
rgbecker Dec 2011 #41
Hoyt Dec 2011 #51
greiner3 Dec 2011 #47
mmonk Dec 2011 #48