Sunday, Jan. 08, 2012

Tax cut ruining Social Security

Your Jan. 1 political cartoon shows the "payroll tax cut" blowing up in Rep. John Boehner's face because of the Tea Party. The payroll tax is the ONLY source of funding for Social Security. Everyone knows the Social Security trust fund was spent long ago. The last two years, Social Security income is less than its payout and will stay so in the future. Last year, the shortage was more than $110 billion. That's why President Obama said he couldn't guarantee Social Security payments if he didn't get another credit card from China, and he will need another credit card this month. A better name for the payroll tax cut should be the Social Security elimination tax.

The AARP is strangely silent on this after warning Congress and the president to keep their hands off Social Security. The AARP's silence is particularly odd after the ruckus it raised when President Bush asked Congress to save Social Security. It is ironic that when you try to save Social Security, the AARP goes nuts. But when it is being eliminated, the organization is silent. Follow the money.

Wake up seniors. Verify the facts. Don't believe what you heard, this so-called tax cut is ruining Social Security. Maybe this paper can help rectify the false impression it allowed by printing this letter with its facts.

Terry Duff

Garner