Talk of The Villages Florida - View Single Post - Social Security
Thread: Social Security
View Single Post
 
Old 08-31-2020, 08:05 AM
markhollis markhollis is offline
Junior Member
Join Date: Sep 2015
Posts: 8
Thanks: 0
Thanked 9 Times in 4 Posts
Default There is a good reason both Republicans AND Democrats are against cutting Payroll tax

In Congress both Democrats and Republicans are against cutting Payroll Tax. It funds SS, Medicare and Medicaid, which something like 60% of nursing home residents depend upon. Employers, like our President, benefit from not having to match.

If the payroll tax were to be cut for the rest of the year, many Americans would be unable to or strained to repay.

If the payroll tax were to be cut for the rest of the year and forgiven and payroll tax was eliminated in 2021, SSI (disability payments) would stop in 2021, and SS payments would stop in 2023 (possibly 2024) and Medicare and Medicaid would be defunded.

I think it is obvious that both parties realize they will have problems with re-election if they are perceived as being the villains who stole money other Americans are entitled to. They would also be 'stealing' from themselves as they are employees. The only beneficiary of payroll tax elimination is employers.
__________________
bopper

Last edited by markhollis; 08-31-2020 at 08:14 AM.