"For decades the payroll tax generated more revenue than the Social Security paid out in benefits. The excess was used to fund other government operations.
". Last year, however, Social Security benefits began outstripping revenue from its designated sources, forcing the program to start tapping its "trust fund" of government obligations.
This nonsense should stopped. No more relief nonsense. Barack Obama should stop diluting the Social Security tax revenue by giving relief of paying all the amount due of 6.1% by employees.
Total nonsense.
As part of a bipartisan spending deal last December, Congress approved Obama's request to reduce the workers' share to 4.2 percent for one year; employers' rate did not change. Obama wants Congress to extend the reduction for an additional year. If not, the rate will return to 6.2 percent on Jan. 1.
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