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Tax Cut Will Financially Intoxicate

Re “Obama double down on payroll tax cutback” (Sept 9):

It appears that the reason President Obama wants to reduce the Social Security tax rate to 3.1% (supposedly try to create jobs) rather than reduce wage earners income tax, is that his (and prior) tax credits have already resulted in 51% of low income earners not paying any income tax. Many receive :”refundable credits” for more than any taxes they would otherwise owe. But his plan to financially intoxicate people by reducing the FICA tax for one year would further defund the already bankrupt Social Security program. The plan would make Bernie Madoff and Charles Ponzi jealous.
Repeal of the Obamacare program would provide the needed motivation to substantially reduce unemployment while reducing the deficit.

 

Published inLetters to the Editor

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