You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #33: Not So Fast [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
DallasNE Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-05-11 11:51 AM
Response to Original message
33. Not So Fast
The Social Security trust fund is not affected so this particular concern is unfounded. Why is contained right there in the linked article.

"The Social Security funding thats lost would be made up through general revenue".

Therein lies the reason this is called a tax holiday. It does show, however, the power of misinformation and scare tactics. It is also not the first time this partcular tax holiday has been used.

An argument could be made that this actually helps shore up Social Security. How, you ask? Because it creates jobs and more people are then paying payroll taxes. They also are paying income taxes so the drain on general revenue to replenish lost Social Security monies is less than it would be by doing nothing/not extending the tax holiday. No, this tax holiday does not fully pay for itself but it does come a lot, lot closer than cutting the tax rate for millionaires ever did -- like 30% versus 2%.
Printer Friendly | Permalink | Reply | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC