#40dollars is the White House’s latest Twitter campaign to raise awareness on what extending the Payroll Tax cut means to the average American’s paycheck.
While I am all for tax and spending cuts, and for putting more money in people’s pockets so they can help drive the economy, I do have a problem with where this cut is coming from!
Somewhere through all of this it has been lost on the media and the public that this tax cut is true to its name, a Payroll Tax cut, not an Income Tax cut.
These cuts are being paid for by Social Security!
So why does that matter? Because when they talk about this costing the government over $100 Billion dollars, what they are not telling us is that the piggy bank they are robbing is really our piggy bank! (Or the world’s biggest Ponzi scheme, depending on your views).
As if things with the deficit aren’t bad enough, they think it is OK to have your future Social Security benefits pay for this benefit today.
Sure, that #40dollars sure could come in handy for many right now, but where is it going to come from tomorrow?
#RetirementCrisis is what no one wants to talk about. We do. Is anyone listening?