Putting the Social Security Shortfall in Context

- By Frank de Libero Anne and Jake were taking a walk in Ballard. Jake, the thoughts obviously been weighing on him, suddenly said, “Social Security, Medicare and similar programs are almost half of non-interest Federal spending. These transfers are sabotaging America's future.” “Whoa”, Anne responded, “where’d that come from? And please don't conflate Social …

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President Obama’s Payroll Tax Holiday Could Unravel Social Security

Via Social Security Works President Obama has proposed a 2% payroll tax holiday on employees only. Currently, employees pay a 6.2% FICA tax on wages up to $106,800. The Administration’s proposal would exist for one-year and is estimated to cost $120 billion. The revenue Social Security would lose from the payroll tax cut would be …

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