It amazes me the lack of knowledge of the economy. Liberals are screaming for the Republicans to pass the two-month extension of the payroll tax deduction. This is not a payroll tax deduction reduction. It is a reduction of the Social Security insurance program.
Historically, an employee had 6.2 percent of his salary deducted for Social Security, but an agreement – a bad agreement – was reached in 2010 to lower that to 4.2 percent.
Seniors who scream about Social Security reforms should be screaming now. Why was this reduction approved when Social Security is already broke? Why did Congress not cut the federal income tax by 2 percent instead?
Well, that would have led to having less to spend on things such as the $700,000 given to the University of New Hampshire to study methane gas emissions from dairy cows. They also wouldn’t have the $800,000 to spend on a genital-washing program in Africa. They can’t do without the $113,000 for a video game preservation center in New York. What would we do if the federal government hadn’t spent $765,000 to study how college students use mobile devices for social networking?
Taxes are not the problem. Spending is! Cut the waste and the tax income will be sufficient. However, I do understand the people screaming class warfare. If I was one of the 51 percent of Americans who received entitlements from taxpayers, I wouldn’t want the gravy to run out, either. When you receive your freebie, just remember: The government didn’t pay for it – your neighbor did!
Margaret Thatcher said, “The problem with socialism is that you eventually run out of other people’s money.” Therefore, you might want to help us taxpayers on this runaway spending, because when we run out of money – oh, well!
Mark Canipe, D.Min.
Beech Island, S.C.