FREEDOM FORUM: Discussion

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Silver Underground

In a partisan face off over how long to extend a payroll tax cut that expires soon and amounts to an extra $40 per biweekly pay period for the average American worker, the White House stirred up some discussion on Twitter by tweeting out: What does #

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Comment by Bill Barker
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Where does this average worker live? The average wage in AZ is not $25.00/hour, which is what $20.00 a week calculates out to based on a 2% reduction in "payroll" tax. Are they reducing the influx of money in to the Social Security system, so that they will have an excuse to reduce benefits, because of a lack of funds?

As a Libertarian I would like to see the system done away with, but, in fairness to those of us that have been forced to pay into it (in my case over 40  years) it needs to be phased out. The quickest way would be to refund all money paid by an individual and the employer plus compound interest, at the average savings rate in effect at the time the money was withheld, not at today's interest rate.

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