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Dec 27 2011

Let’s Make Social Security Pay Its Own Way

Posted by: realclearmarkets in RealClearMarkets

Last week, Congress and President Obama extended the 2011 payroll tax holiday into the first two months of 2012. It is not yet clear how the holiday, which shaves two percentage points off workers’ Social Security tax rates, has affected consumer demand and the overall economy. But, it is all too clear that the holiday’s diversion of general revenue from the Social Security trust fund has undermined historical practices and distorted federal budgetary priorities.
Throughout its history, Social Security has been treated as separate from the rest of the budget. With few…

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This entry was posted on Tuesday, December 27th, 2011 at 11:04 pm and is filed under RealClearMarkets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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