The Payroll Tax Cut:
So the Senate (Dan Coats and Richard Lugar) passed a two month payroll tax cut extension. –Whoopty freakin’ do. I’m all for tax cuts, but not when your cutting deeper into Social Security to pay for it. Seriously. SS is predicted to completely run out of money in about 2036 and our answer is to put less into the fund so that it will run out of money sooner. That’s like saying I won’t be able to make my house payment in a few months, so I should go buy a new car.
In 2036 my mom will be about 85. That means SS was already likely going to run out on her, now it’s going to run out sooner. $20 a week for 26 years is $27,040. I don’t think that will be enough “savings” for me to support my mom when she is 85 and has no Social Security. Which she paid for!! What happened to her money? Right, I remember, congress already spent it. So congress has fed us a candy bar in hopes we won’t notice there’s no dinner tonight. Yummy yummy. This won’t fill our bellies.
And what great and wonderful thing did they get for their 2-month extension? “But they paid for it”, you say. Sure, if you say so. They have levied a fee on anyone getting a mortgage. That means, when you have to remortgage your house to put your parents in a home because their SS ran out, you’ll be paying for the $20 a week candy bar they fed you. The best part is that these fines are determined a “Director”, which means an agency. It puts absolute power and complete discretion to fee and fine mortgages in any way it sees fit. There are no “rules” for how it does this. It is subjective and arbitrary. You’ve just given the federal government the power to decide whether or not you deserve to purchase a home with your own money.
And that was just for a 2 month extension. We still don’t know what our paychecks will look like in March. God only knows what they will cram down our throats next year.
· So, if Social Security is going broke, why would we defund it?
· If the housing market crash caused the economy to tank, why would we restrict it?
Only congress (the 435 idiots) has the answers to those questions. Feel free to tell them $20 a week won't replace Social Security and your mortgage should be between you and your banker.
Dan Coats: http://coats.senate.gov/contact/
Dick Lugar: http://lugar.senate.gov/contact/contactform.cfm
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