There is some thinking going on about a temporary cut in the payroll taxes that business pay into Social Security. The thinking being that they will create some jobs if they do not have to pay that tax for a period of time.
Hands off Social Security. Each worker pays, I think it is 6.5%, of their pay into Social Security and the company you work for matches that amount.
Social Security is not broke and is working great. It maybe the most successful government program of all time.
If you want to mess with the Social Security tax how about we do it this way…
On the amount that the company pays (now 6.5%) how about we do something like this …
If you are a company with x number of employees, net profits of x amount of money and you fail to create x number of new jobs then your tax will be 6.75% the first year and increase each year until you create x number of jobs in the United States!
My point is that we are looking at things all Republican backwards.
Of course everyone knows that it maybe necessary to make very minor changes to Social Security. The adjustments would only need to be very minor.
But the Republicans want to do away with Social Security.
Since they take that position… I know a way to fix Social Security and not a minor fix .. One that would have so much money going into the Social Security fund that they would be snowed under with money.
If there is a problem…. Just have employers pay 7.0% instead of 6.5%. Problem is over with and we do not have to worry about Social Security.
Or we could have the employer pay 7.5% and cut the amount that employees pay to 6% and put money in the pocket of workers and they will spend it.
Corporations are not going to create jobs no matter how much you cut their taxes. If they do create jobs they are going to create them outside of the United States.
You do know they already decreased the individual social security contribution as of January 2011, right? They're obviously intending the system to end.
Posted by: Joe Taibi | Sunday, June 12, 2011 at 05:37
I forgot that... I remember that now... I think it was a bad idea even to cut the contribution of individuals.
We should only mess with it to improve it and do anything to weaken it.
President Obama is a sad excuse for a Democratic but he is all we got and we art stuck with him for better or worst.
Posted by: Jim Howard | Sunday, June 12, 2011 at 06:48