Dec 3, 2001
Republicans in the Senate have proposed that for one month Social Security tax will not be taken out of workers’ checks – nor will employers have to pay the matching tax. Democrats said they were open to the idea since the damage September 11th did to the economy had to be overcome.
For over a year now, we have been told that Social Security is in danger and the trust fund is running low. How is it that Social Security can suddenly afford to give up about 40 billion dollars of its surplus? That’s what this “tax holiday” will cost. This proposal shows that the talk about Social Security being in danger was only a lie designed to turn the money over to Wall Street.
It’s disgusting. The proposal for a Social Security holiday is to replace the $300 refund per person for lower paid workers who received nothing from the previous cuts received, which both Democrats and Republicans said they supported before this Social Security tax holiday proposal. Workers making $7 an hour working full time would get $75 – while corporations will take home a bundle. The corporations couldn’t rob Social Security directly. So they are using September 11th to do it.