
02-14-2012, 04:02 PM
|
|
Quote:
Originally Posted by Bavarian
By saying the FICA Contributions to the Social Security Pension System are really taxes, the politicians, mainly Democract Party, have taken Social Security from a system that people who worked under it, made contributions of 15% to the fund and were getting back the money they paid in with interest. But, now it is a tax so Social Security payments are welfare. They have broken the tie between the money people contributed into like a modern day IRA or 401K, to just another tax.
Remember this. When people say a new tax would replace income taxes and payroll taxes. Why should retired people continue to pay into Social Security.
It is bad enough that some of it is taxed.
I am not going to get Social Security as I was under a different system, CSRS. Similarly, my cousin, who worked for PRR, doesn't get any SS, he gets RR retirement. The money I paid into FICA when working for private companies doesn't get me any benefits.
|
Thanks. I'm grateful for your help.
|