Posted on | January 11, 2013 | 17 Comments
Hoffman, a 21-year-old Virginian who works at a nonprofit, estimates her paycheck will be roughly $30 less this biweekly pay period, or about $780 annually, thanks to the end of a two-year cut on payroll taxes, which fund Social Security. The tax has risen back up to 6.2 percent from 4.2 percent, costing someone making $50,000 annually about $1,000 per year and a household with two high-paid workers up to $4,500.
“As a newly-graduated person, someone coming straight out of college, I don’t like the idea of having less money coming to me due to the selfish interests of people in Congress who don’t have any interest in reducing our financial problems,” Hoffman told FoxNews.com. “This is an impediment for future economic growth. It’s going to make it harder for young people like myself to get married, find a better job, you name it.”
Read the whole thing.
I, for one, hope to hear from Paul Ryan at CPAC13 just how the GOP proposes to emancipate Americans from working on the Social Security Plantation. There has got to be some way to craft a legal theory that a Ponzi scheme is a Ponzi scheme, despite the dodgy SCOTUS history.
via Sissy Willis