1. How is it that we Americans will pay more taxes and get less services?

2. How is it that payroll taxes, that pay for Social Security, MEDICARE, and MEDICAID, amount to over a trillion dollars, and the new tax proposal only funds 65 billion?

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Tax and slash

Comments

gumball's picture
gumball 1 year 37 weeks ago
#1

What?

Dianereynolds's picture
Dianereynolds 1 year 37 weeks ago
#2

Double what?

Alberto Ceras 2's picture
Alberto Ceras 2 1 year 37 weeks ago
#3

Don’t conflate Social Security payroll tax (deductions) and income tax.

[Quote]

https://www.ssa.gov/news/press/factsheets/HowAreSocialSecurity.htm

How is Social Security financed?

Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $118,500 (in 2016), while the self-employed pay 12.4 percent.

[Unquote]

The Republican's new aid to the rich package will affect neither Social Security deductions nor payments. Should this aid to the rich result in major deficits the Repugs may push to slash SS benefits and to use SS payments for government expenses. That would require a major, perhaps complete, change to Social Security law. As stands now the government can and does borrow from SS funds when there is a SS surplus but it must issue bonds in return that SS can redeem at a specified date. There are many explanations on Internet but this one from the Bush years may help clear it up:

http://www.politifact.com/truth-o-meter/statements/2015/aug/03/facebook-...

Who put these clowns in office? Primarily, I suspect, those young folks who didn't bother to vote and who, ultimately, will pay for their negligence.

Alberto Ceras 2's picture
Alberto Ceras 2 1 year 37 weeks ago
#4

Your government in action!!! While the people...Duh.

https://washingtonmonthly.com/2017/12/02/the-gop-tax-bill-reparations-fo...

[Quote]

The Republican tax deform (that’s not a spelling error) bill passed by the Senate on a 51-49 vote early this morning is nothing short of a hate crime against the economically disadvantaged, a declaration of holy war against the poor. In supporting this bill, the GOP has made it clear that for all practical purposes, the party wishes to, in effect, strip anyone not in the one percent of the benefits of citizenship.

[Unquote]

It isn't just "...a hate crime against the economically disadvantaged" but a hate crime against the entire 99%. When - or will - the 99% revolt? Maybe people can't revolt with an i-phone glued to the ear.

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