This is not a payroll tax cut, this is a 2 percent cut in Social Security funding. As a working American I do not believe that this is the correct decision to address the economic issues facing the United States. I also do not understand why every senior citizen and their so-called advocates such as AARP are not speaking out loud and clear against this 2 percent cut in Social Ssecurity funding. My question to the senior citizen is would you like to be facing a 2 percent cut in benefits to offset the reduction in contributions going into the Social Security funding? The funding vs. expenditure in 2011 went in the red for the first time due to this 2 percent decrease in Social Security funding.
This 2 percent reduction in Social Security funding has been labeled as a benefit to the middle class. This is not true. The middle class worker pays income tax, the lower income worker does not. The 2 percent reduction in Social Security funding is to buy votes from that targeted lower income group. If our president really wanted to create a benefit for the middle class he would be addressing the income tax rates paid by the middle class workers. Instead he is choosing to erode the Social Security funding which in the long run will only hurt the individuals who depend on it the most.
The two month extension was a joke. I do not believe that a short term Band-Aid is a solution to anything. Long term solutions are hard decisions to make because they require that all Americans make some sort of sacrifice.