Extending the Payroll Tax?

  1. American View profile image59
    American Viewposted 5 years ago

    Obama renewed his call for an extension of payroll tax cuts. I believe everyone would be for that. I am sure Congress would 100% support such an issue, if it existed. The "payroll tax cut"  was in fact a 2% cut in SS withholding. A cut in a retirement program that is going broke. Making that cut permanent will only ensure SS will go broke sooner.

    We know Obama will never lower federal withholding because he wants to increase revenues. Cutting withholding will lose revenues, so Obama will never support it. That is one of the biggest reason for eliminating the Bush tax cuts.