Obama's "Tax Holiday": A Poison Pill for Social Security

[Independem]

The pressure to cut Social Security benefits will be greater than ever. That will also give the slashers their chance to welsh on the promissory notes to the trust fund. They might even be able to do away with Social Security's separate accounts altogether. In the meantime, this deal will have ended the program's 75-year history as a program that working Americans, along with their employers, fund for their own future use.

That's why Social Security isn't just another government program, and it's why lower- and middle-income people support it so strongly : You pay into Social Security while you work, and then you collect from it when you retire. Its benefits aren't just another item on the Federal balance sheet, and payroll taxes aren't just another tax. By design, Social Security is a secure way for people to provide for their own future. This deal could end that forever.

http://www.huffingtonpost.com/rj-eskow/obamas-tax-holiday-a-pois_b_793526.html


Medical Records Go Digital

The complex field of health-care information may soon be a little more streamlined. On Tuesday, Chicago-based electronic medical records provider Allscripts announced it has agreed to merge with British rival Misys PLC in a cash-and-stocks deal worth more than $1 billion.

http://www.time.com/time/business/article/0,8599,1723130,00.html


When you cut money that is paid in to Social Security you must cut what goes out as well, ObamaCare and centralized medical records are taking the path of devouring S.S..

This deal today is one of the steps in wiping out the $2.6 Trillion Dollars in SS Trust Fund and Privatizing. They have your Medical Records, ObamaCare will take care of the insurance part
and republicans will talk dumb people into getting rid of the only option people will have ObamaCare after they take away S.S., and funds dry up.

Corporations do not like paying in half the S.S. cost and are making people as contractors, pay your own retirement fund, health insurance and workman’s comp. You will think you are getting the same amount or more but in reality you are loosing all the above….

The New Improved World Order when Americans become like the rest of the third world countries.

[Liberty Belle]

1. Mom got her Social Security cut....this shouldn't happen to an 80-year-old widow.

Shame on Obama and everyone in Congress who would cut one penny from the elderly's subsistence money. Do they believe it costs any less to live now than before? In our area utility rates have gone up, along with many other things.

[MrPugglyWuggly]

2. Wait a second! Our legislators, not Wall Street screwed us!

Who caused SS to go bankrupt? It wasn't Wall Street or the Banks. Democrats and Republicans have been stealing our SS money for 42 years! Does anyone know when our government started stealing and spending the SS reserves? Huh... Answer: The Vietnam War. Congress began spending SS money in 1968. They said they'd pay it back when the war ended. Yeah right. Even for the past 2 years, our own Democratic leaders could have stopped spending the SS surplus, but instead they too have chose to add the extra SS money to the general budget to make the deficit look better.

When you start looking for who to blame the SS mess on, look at the 535 men and women in Congress over the past 42 years. You can't blame this on Wall Street nor any one party. When our own Democratic leaders are collecting $1000, paying out $900, then they take the remaining $100 and spend it rather than save it for our future, which is what they're supposed to do...we can't blame the Pubes.

[Independem]

3. A Poison Pill for Social Security

The 2% tax holiday expires in 2012, an election year. Meanwhile the government debt will have increased by $120 billion, the amount that will be paid into Social Security to cover the cost of this "holiday." Bear in mind: Never before in Social Security's 75-year history has it taken any funds from the overall Treasury. It's forbidden by law from adding to the deficit. That's why it has its own trust fund, which currently holds a surplus of $2.6 trillion. That's money the Federal government has borrowed, and which it's morally (and legally) obligated to pay back so we can receive our retirement benefits.


http://www.huffingtonpost.com/rj-eskow/obamas-tax-holiday-a-pois_b_793526.html


Right now people are getting checks every month like clockwork, that will stop or be reduced every year until the other programs take over.

The idea is for people under 40 to no longer pay in, that cuts the funding for everyone else as the $2.6 trillion goes toward the deficit or into thin air.

[jtuck004]

4. Oh sure we can - hardly needing the money they stole it out of the mouths

of children, single parents, the aged, away from the government who could also have invested in people and our industrial base, providing the the jobs we need today. With the help, as you noted, of people in various administrations.

The wealthy net $1.4 Trillion dollars over the next two years in today's "compromise", money which would otherwise have been paid as their fair share of taxes. Instead money is taken out of paychecks as Social Security, T-bills are purchased, and then the money is used to fund idiotic wars and pay for the reckless, criminal behavior of the people in the investment banks, who held the life insurance, annuity, and pension proceeds hostage in the the 2008, 2009, 2010, (and onward) bailout so they could claim over $2 trillion dollars in taxpayer money.

They are so damn culpable, along with several administrations, one would have to be an agent of their to argue otherwise.

And SS is not bankrupt, it owns T-bills, backed by the Full Faith and Credit Of the United States Government. And these weasels want us to invalidate that so they don't have to pay their fair share.

[Jim Lane]

5. What was the cut? You mean the COLA increase coming in at zero this year?

Certainly some bills have gone up, but Obama and Congress haven't messed with this year's payments. The formula for adjusting benefits to the cost of living was established long ago. Applying it to current economic conditions means that benefits didn't increase. There are arguments that the cost-of-living measurement that's used doesn't accurately reflect the spending of retirees, but that's a separate issue.