They may only be words, but the choice of those words can change everything.
Take for example, the so-called "Payroll Tax Cut."
While a significant tax cut is precisely what the economy needs, what the politicians are proposing is not a tax cut.
The "tax" that they are proposing to cut is not a tax, it is the Social Security contribution.
Social Security is not a tax, or at least it was not intended to be. The Social Security deduction is more like an insurance premium, annuity, or perhaps a Christmas club. A worker pays into the system for a number of years, and when they retire, their contributions are returned in the form of periodic payments.
To further this definition, Social Security/Medicare programs are referred to as F.I.C.A. or Federal Insurance Contributions Act.
Social security is no more of an 'entitlement' than an IRA or other investment account. Social security, in theory at least, is paid for by the contributions of its participants. Granted, people are taking out more than they put in, but this is a result of a lack of long-term planning by the program's designers.
Your Social Security contribution was never intended to be co-mingled with the general tax fund, but was to remain secure, in a separate account, often called a 'lock box.'
The powers that be correctly preach that Social Security is unsustainable in its present form. This is a result of the relatively low (compared to today's life expectancy) retirement ages, a surge in retirees and a dwindling contributor base.
Why would anyone in their right mind suggest what they are really proposing, to partially 'defund' a program that is already in financial trouble? But there I go, attempting to place Congress and "in their right mind" in the same sentence.
A true payroll tax cut would take the form of long-term reductions in the marginal tax rates, not a reduction in retirement fund contributions.
If Washington is still dead-set on punishing success, they can keep the tax cuts below the Million dollar income mark, raise or eliminate the Social Security cut off amount and gradually raise the retirement age.
Don't listen to the spin from either party, pay attention to common sense
Stealing even more funds from the troubled "people's retirement system" will only increase the burden on the system, virtually guaranteeing failure.
But then again, Congress has perfected their pass the buck, kick the can down the road and avoid responsibility while telling outright lies techniques.
Your leaders think you are stupid - prove them wrong!
BTW: Did you know that you are probably an Ipticrat?
