Everywhere I turn it’s Social Security. It is all over the news feeds and it is full of misinformation, misdirection and spin. I am getting dizzy.
I have opined on this topic often in the past month, but I must do it again.
First I would like to point out there is yet no actual plan to discuss, and yet all I have read the last month is everyoneâââs opinion on the plan. Why donââât all the political talking heads wait till there is something to actually discuss? Oh, I forgot there is nothing to discuss because only one side is actually trying to do something to fix Social Security.
I am curious has anyone in this country heard just one idea, on anything, from the Democrat party? Because I havenââât, all they do is fight everyone elseâââs ideas.
I just read an article on media matters stating that someone else was spinning the Social Security issue by stating The Presidents plan would only allow 4% of payroll taxes to be invested in private accounts. The article then goes into a full tail spin!
it’s actually closer to two-thirds. Under the current Social Security system, workers pay half of the 12.4 percent payroll tax — 6.2 percent of their salary — and employers pay the other half. The Bush proposal would let workers invest up to 4 percent of their salary (or 64.5 percent of what’s currently taken out of their paychecks for payroll taxes) into a private account.
First that other 6.2% is still the individuals Social Security tax. Just because the employer pays it means nothing. It is the percentage of your paycheck going into social security. Well not really, it goes into the general tax fund but that is another story. Where does the employer come up with that 6.2%? If you donââât think the employer tacks that cost into account when figuring out salaries youâââre naive. All employee costs are figured into salaries.
I think we should be able to put the 6.2% into private accounts. I get 3.25% on a simple checking account at emegrantdirect.com
The bottom line is the author while accusing another author of spinning is spinning out of control.
Past articles on Social Security:
Update: Social Security Reform
Illegals Putting Millions Into Social Security Not
People Still Don’t Get The Social Security Problem
New Polling: Social Security in Trouble