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When Democrats are in charge
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Monday, October 22, 2012
4 comments:
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Juice said...
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Well thanks to WEP my husband receives 50% of his actual SS benefit value because he has a pension. After all, it's only fair, right?
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10/22/12, 1:24 PM
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Skoonj said...
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The "payroll tax" is actually the Socialist Security tax. This tax has been artificially lowered for a couple of years, thanks to Obama, the Democrats, and the RINOs.
Unfortunately, this tax is the only source for Socialist Security money. The reduction has reduced the funding for Socialist Security. That brings it even closer to insolvency.
Something people don't realize is that the amount of Socialist Security money you receive is based in part on what you contribute. This means that you have been contributing less, thanks to America's only native criminal class (Congress, according to Mark Twain), and will receive less on retirement. -
10/22/12, 2:14 PM
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Anonymous said...
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As Skoonj points out the reduction in payroll tax reduces your benefit but it also means that the funding shortfall for program is greater than it would have been. This has the effect of pushing the "debt" down the road - I'm sure your children, grandchildren, and great grandchildren will thank you for it.
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10/22/12, 5:46 PM
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Jess said...
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The reduction in SS benefits was supposedly an effort to boost the economy by allowing taxpayers to have a little more money each paycheck.
It helped reduce the loss of spending due to inflation and increased costs for living, but it didn't bridge the gap.
When the tax is returned to previous levels, the result will be smaller paychecks for all concerned and a general feeling by everyone they were screwed by the government - as usual.
Everyone will feel this change, since everyone that works pays Social Security taxes. -
10/23/12, 7:50 AM
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