Is the Social Security tax holiday good or bad?

Commentary by Stewart Topping December 22, 2011

As I was researching the Tax holiday Bills in Congress I did it with the purpose of trying to understanding whether there was more to the difference of opinion that I could not see or hear. 
Today it is hard to trust any party or any Politician because it seems that a lot of politician are clueless on the workings of socialism and will say anything to get re-elected, pass any legislation, and yes to go home for Christmas.

The one thing politicians are good at is talk but with little or no action at all, just enough to please the majority.  Some politicians make a good case that we should be like being Robin Hood, take from the rich and give to the poor.  I call that wealth distributions, or how does President Obama say it; spread the wealth.  It is part of the platform of socialism.

Hopefully the new Tea Party elect-tee in the House will over time make a difference.  We must give them time and elect more to the Senate and House.  It may be our only hope.  Senator’s McConnell, Brown, Snow and yes Senate McCain are examples of progressive Republicans. They neither like the Tea party nor for what it stand for.  Why should we listen to them?  They have done nothing to cut the debt of our Country or stop spending

The battle over the Tax Holiday is a great example of what’s wrong with Washington. The House Republican Tea Parties are trying to make a stand.

What is deep down under the noise we hear?  

  • The Senate bill does not pay for itself. 
  •  The House bill does pay for it self by cutting spending.

So who’s looking out for us, I think in part it is the House Bill and the Tea party Republican.

Read the following comment made on the issue, looking at the bill itself.

Lots of debating and maneuvering with the social security tax holiday set to expire. Is it a good thing or a bad thing? Since social security benefits are based upon what you actually made and paid in isn’t it shooting yourself in the foot down the road? The less you pay in the less you will get. Sure it puts a few more dollars in peoples pockets right now (which is absolutely needed) but whats the trade off?
Is this how they (both parties) plan to shore up social security by reducing the amount of future payments to eligible retiree’s? Government actuaries are paid to calculate things such as life expectancy and projected benefit payouts years down the road. Have they calculated an estimated payout at present rates and future rates? Of course they have.
This tax break will affect the American citizens spending ultimately once retired. Personally I would favor leaving the social security tax rate alone and reduce federal wasteful spending and reduce the income tax rate to give people the extra money now. Just seems to me they have us cutting our own throats with this one.

What say you?

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