Sep 27, 2010
In August, Social Security reported that it will run a deficit this year for the first time in decades.
Politicians act as though this means Social Security must be “reformed” – benefits cut, ages of retirement raised, etc.
It’s a false issue.
Of course, with all this unemployment, there’s a shortfall, just as there was in 1983, in the midst of the last serious recession. Millions of laid off workers are not paying Social Security taxes; nor are their bosses. And every time a company squeezes one worker to do two workers’ jobs, the company escapes paying taxes on half the work.
To build up the surplus again put people back to work!
In the meantime, the bosses and their politicians should take their thieving hands out of Social Security’s pockets!