Use access key #2 to skip to page content.

Payroll Tax Holiday

Recs

7

December 15, 2011 – Comments (18)

The Temporary Payroll Tax Holiday, is all set to expire at the end of the year, and that is a good thing.

The Temporary Payroll Tax Holiday, could also be named the Underfund Social Security Until it Dies Act.

It could also be called the Spend Your Retirement Today Act for people who do not have enough income to visit gambling websites.

Another name might be The Hand Us Your Money Act, if you are a broker and charging $7.00 for each lotto ticket.

Regardless of what you call it, gradually restoring the conditions that made Americans want Social Security and want to work together, to defend themselves from a financial industry (which is us) that wants to be paid for someone elses work and productivity, is the wrong choice to make.

Unfortunately one of the solutions to fully funding SSI was to increase the tax slightly in 1990, and because it wasn't increased, slightly more in 2000, and because it wasn't increased, slightly more in 2010.

Instead you have underfunded SSI by an additional 2% last year, but with all that money added into the economy our owners only took raises for themselves, they did not give them.

While it might be nice for the ownership society to free up 2% of all the income below $108,000 into 'the market' or 'todays economy', unfortunately for all Americans without the savings or earnings ability to be owners, 2% of their future is being handed to them today, to pay the price of finance, at the cost of their future SSI income, for the good of todays economy and lenders. The definition of any economy is; transfer of wealth.

President Obama and the Democrats

You are losing my vote. Republicans and Tea Party, you are not getting it.

You also need to veto the entire defense budget for the indefinite detention provision. It should never have been passed and it should not have gotten so quietly past the freedom lovers in the Tea Party or the blogs of the Libertarians. Google "indefinite detention" and the ACLU, the Huff Post, The Nation, Alternet, Common Dreams, the voices of the left spoke out against it, even AlJazeera covered it.

Best wishes,

Steven

18 Comments – Post Your Own

#1) On December 15, 2011 at 7:23 PM, motleyanimal (93.53) wrote:

Dude!

We agree on something!

Report this comment
#2) On December 16, 2011 at 12:03 AM, fmahnke (95.32) wrote:

We agree WOW

Report this comment
#3) On December 16, 2011 at 8:22 AM, ChrisGraley (30.25) wrote:

Should be called the "Chris can manage his own money better than a government system that will eventually implode anyway." Act.

Report this comment
#4) On December 16, 2011 at 8:44 AM, dbtheonly (< 20) wrote:

Steve,

I think Chris nailed the attractiveness of the issue.  He thinks he can do better than "a government system".

So did the people who invested in Enron. 

So my question  would be what would we say to someone who lost their retirement funds in the market?

Report this comment
#5) On December 16, 2011 at 9:09 AM, ChrisGraley (30.25) wrote:

You would probably same the same thing that you would to people just entering the job market now and expecting this ponzi scheme to be there when they are ready to retire.

"Time to start saving more for retirement."

 

Report this comment
#6) On December 16, 2011 at 12:22 PM, devoish (99.07) wrote:

dbtheonly,

I would say "don't risk your retirement in the market, get someone else to, and charge them a fee so your income is guaranteed".

or "time to start saving more for retirement, and for a small fee on your deposits, I'm just the guy to help you".

or "freedom's just another word for nothing left to lose".

Watch this space for more details.

Best wishes,

Steven

Report this comment
#7) On December 16, 2011 at 12:35 PM, lquadland10 (< 20) wrote:

I have done well with putting my money in a money market account and compounding intrest. Have not lost a penny. The days of 18% intrest well make up the 1/2% intrest I am getting now and it will go up again. Left or Right it does not matter. Both sides take away liberty. Still voting Ronnald Paul like last time. That way I can sleep at night. Also my gold and silver has done well.

You also need to veto the entire defense budget for the indefinite detention provision. It should never have been passed and it should not have gotten so quietly past the freedom lovers in the Tea Party or the blogs of the Libertarians. Google "indefinite detention" and the ACLU, the Huff Post, The Nation, Alternet, Common Dreams, the voices of the left spoke out against it, even AlJazeera covered it. 

Yep and where will the Americans go for that Indefinite Detention go? Fema camps. They have been activatived. Sometimes the person( me ) who is called crazy is really not crazy. Just right about what I have said in the past.

http://www.newswithviews.com/Roth/laurie300.htm

 

Report this comment
#8) On December 16, 2011 at 12:37 PM, lquadland10 (< 20) wrote:

Let them Eat Cake. http://www.newswithviews.com/Roth/laurie1.htm

Report this comment
#9) On December 16, 2011 at 3:05 PM, leohaas (35.73) wrote:

Devo: it looks like you are ill-informed on the SS tax holiday issue.

This tax holiday did not weaken Social Security. Rather, it increased the deficit (read here, some scrolling needed). And both proposals to extend the cut identify sources for replenishing the money that will not be collected if the cut for 2012 becomes law (the Democratic proposal by imposing a millionaires tax, the Republican proposal by freezing salaries of Federal employees and cutting employment with the Federal Government by 10% across the board).

Further, I don't understand how a progressive such as yourself can be opposed to lowering the only real regressive tax this nation has. Ask anyone making $50k/year how this extra $1,000 is going to impact their life.

I agree with you when it comes to the indefinite detention. Clearly, this is unconstitutional. However, I will never be in a position where I have standing to challenge it. But on these kind of issues we can let our opinion be heard.

Report this comment
#10) On December 16, 2011 at 3:28 PM, whereaminow (42.76) wrote:

It should never have been passed and it should not have gotten so quietly past the freedom lovers in the Tea Party or the blogs of the Libertarians.

Agreed it's despicable. 

Didn't sneak past anybody, right or left leaning civil liberty defenders. 

David

Report this comment
#11) On December 16, 2011 at 6:05 PM, awallejr (82.72) wrote:

Steve it appears you just oppose any kind of tax cut on principle.  The payroll tax cut as leohaas discussed is the only place to cut for the Average Joe.  It puts money in his pocket to help pay those bills.  It has no impact on Social Security since that in the end can be covered with other taxes.  You really think there is a separate vault containing only Social Security funds?  Any shortfalls would come from the general budget.  But aha!  That might mean raising taxes on those pesky millionaires.

As for the "indefinite detention" it addresses a difficult issue, namely what do we do with professed terrorists who are hell bent on killing every American man, woman and child.  I don't care if those types are held forever.  My concern is if it is used as a guise to hold pretty much anyone.  Hence it is imperative in my view that there be an automatic right of review by a Federal Judge to insure that such is not the case in any given circumstance.  This Act will eventually land in front of the Supreme Court.

 

Report this comment
#12) On December 16, 2011 at 8:46 PM, Melaschasm (65.13) wrote:

My representative, one of the few tea party candidates in the US House, loudly opposed the 'indefinite detention' law, and has been all over the local news.

In 2010 I was concerned about his willingness to keep the many libertarian leaning policies he supported as a candidate.  After a year in office, he has won me over and I will be supporting his reelection effort next year.

Report this comment
#13) On December 17, 2011 at 8:16 AM, devoish (99.07) wrote:

Melaschasm,

So did Independent and socialist, Bernie Sanders.

Awallejr and Leohaas,

Thanks. http://www.ssa.gov/oact/solvency/RCasey_20111206.pdf 

Best wishes,

Steven

Report this comment
#14) On December 17, 2011 at 8:22 AM, HarryCarysGhost (99.76) wrote:

Hey man, what no link for the quote?-

http://www.youtube.com/watch?v=5FMhnl0__Vo

 

Report this comment
#15) On December 17, 2011 at 1:11 PM, awallejr (82.72) wrote:

Maybe I have misread your link Steve, but it seems to be a support for Leo's and my points.  Chief Actuary for Soc Sec is basically stating there would be a neglible impact on SS and any shortfall will be replaced from the general fund.

Does that link alter your initial argument?

Report this comment
#16) On December 17, 2011 at 4:13 PM, devoish (99.07) wrote:

Awallejr,

Yes, the thank you is for correcting my misunderstanding. The link is to a credible source that supported you both.

Best wishes,

Steven

Report this comment
#17) On December 17, 2011 at 4:25 PM, whereaminow (42.76) wrote:

Glenn Greenwald of Salon defends Ron Paul against Politi"fact"'s attack over detention claim:

http://www.salon.com/2011/12/05/politifact_and_the_scam_of_neutral_expertise/singleton/

David

Report this comment
#18) On December 20, 2011 at 3:04 PM, Valyooo (99.63) wrote:

 You really think there is a separate vault containing only Social Security funds?

Yeah its right here

http://richardkinnaird.com/images/behind-the-vault.jpg

Report this comment

Featured Broker Partners


Advertisement