Reply #15: and that is also a bad idea. [View All]

[garybeck]

we do not want social security to be funded by the treasury. the fact that is not funded by the treasury is itself the reason why it can't be blamed for the deficit. (see post #13.)

remove the cap on the payroll tax and it becomes much less regressive.

I also don't follow the argument anyway, that the cut will be made up with from income tax revenue. That argument is based on the idea that cutting the payroll tax will increase hiring. I fail to see the logic there. If FICA tax is reduced, that just means that people who already have jobs will have a little more money to take home. If you think that's going to create jobs, you are just buying the trickle down economics idea, and that is a big lie.

i keep hearing that the FICA cut will be made up for somewhere else, and it will not affect social security funding, but it just doesn't pass the sniff test. Unless you are going to RAISE taxes somewhere else, and you KNOW that ain't going to happen under this president, at least not in this term.