Ederik Schneider Online

Wednesday, December 7, 2011

Nick Gillespie Discusses Payroll Tax Cuts, Social Security: What happened to "No New Taxes"?



The next time I hear a republican say he's against any Tax Hikes what's so ever but supports letting the Payroll Tax Cut expire. I going to get someone to stick their head in the toilet after they just used before they flush it. Of course I would never do something like that, without the money being right but thats how mad I would be. Cutting the Payroll Tax is a Tax Cut by definition so letting it expire, your letting the Payroll Tax go back up. Which is what a Tax Hike is by definition, so if your against extending the Payroll Tax Cut, your by definition supporting a Tax Hike. And House Republicans were gambling about letting the Payroll Tax Cut expire, that it wouldn't be notice because it benefits a lot of people that need it. That don't normally support them because the Republican Party for good reason looks like they are in the bag of wealthy people. Not carrying about people who are struggling and can use a Payroll Tax Cut. I would argue for making the Payroll Tax Cut permanent, because its a Regressive Tax on people in the Middle Class. And especially on Low Income Workers and makes their lives harder because they have less money. Especially on top of the Income Tax which is one reason why I support scrapping the Federal Income Tax as well. And replacing it with a Progressive Income Tax but thats for a different blog. The Payroll Tax Cut has to be extended to prevent a huge Middle Class Tax Hike. A punch to the economy thats still fragile but improving that it can't afford to take right now.

Nick Gillespie of the Reason Organization, a Libertarian Advocacy Group does have a point about the Payroll Tax in how it effects Social Security. That the Payroll Tax is suppose to be dedicated for Social Security and Medicare, like spouses are suppose to be dedicated to each other. When we have a 50% Divorce Rate in America, Congress sometimes goes out of their way to spend Payroll Taxes on their Pet Projects, when they don't feel like paying for things. Which is about as often as thieves, which is again why I support turning Social Security over to the States. And let them collect those taxes but have fifty different versions of Social Security in America. With each State having their own Pension System, expanding what Social Security could do. For people in their retirements to go along with other Pension Plans they may have. The only good idea well I've heard two good ideas from Rick Perry so far a Presidential Candidate. Turning Social Security over to the States and requiring the countries we give Foreign Aid to. To apply for any aid that they receive from us, my Social Security plan would be different. Because each State would have their own Social Security System but they wouldn't be running it. It would be a Semi Private Non Profit Well Regulated Retirement Insurance System.

We should make the Payroll Tax Cut permanent, to help out the Middle Class and Low Income Workers because its a Regressive Tax. While we are making High Earners pay more into the system and taking less out to fix the system. And establish Social Security Plus to the system that would still have a floor of income in it. That would be the Payroll Tax by allowing people to increase their own Payroll Tax, if they decide to. To give more people Financial Independence in how they plan for their retirement and how they live in their retirement. Once they retire.