Why Obama's payroll tax cut extension is the best worst option

Typical American logic, take what you want now and the heck with the future. We need to contribute to the Social Security System now so that there will be funds for those who need them later! Social Security is the single most successful social program, and it funds itself if we crate and maintain a robust work force.

It is ridiculous that the wealth pay less tax in US than in EU, during recession. It is very important that the wealth must contribute more in this period (recession).
However, the media, particularly Fox News, still claims that the rich are job creator and should not pay more tax. In facts, most CEOs in financial institutes will put his money to the bank for more interest, not hire people. The job creators are the companies, loan from financial institutes and demand. The Koch brothers still expand their businesses although they have to pay tax more if they found they can make profits. So tax does not kill job creators. Problem is that the rich try to pay tax as less as possible by lobbying the politicians, particularly GOP , not to tax more.

It would also help if we raised the income limit on FICA payments; it should go up to at least $250K. I have read analyses that say that just increasing the limit would fully fund it out way beyond 2035 and into the foreseeable future.

I have had to pay into the system for my entire working life, so I resent the attitude of many corrupt Washington politicians that my expectations of collecting my benefits when the time comes is somehow equivalent to ‘welfare’ and a ‘burden’ on society and my children and grandchildren. Particularly since those same Congresspersons have a taxpayer funded retirement plan that I would LOVE to enjoy! I will be happy to trade my SS benefits for their retirement benefits at any time. Of course, I’d also be happy to trade their ‘working’ benefits since I no longer have company benefits, largely due to their favorable legal treatment of corporations, but that is an entirely different comment for an entirely different article!

We cannot afford this.

Buy the way, I thought lowering taxes did not create jobs according to Obama.

I’m confused.

“Social Security doesn’t contribute directly to the deficit. The Social Security Trust Fund (SSTF) is running a $2.6 trillion surplus – and despite what you hear about red ink, the program actually is cash flow positive if you include interest payments on SSTF bonds and income taxes paid on benefits by high-income recipients.”

But if we didn’t raise the debt ceiling limit this fall “Checks might not go out because there is no money to send them”.

So we have 2.6 trillion (2,600 billion) dollars, and can’t cover 26 billion to run for a month without borrowing more?

If I have $5000 in my pocket and have to pay $5 for lunch, I don’t need a loan to do it. Unless the $5000 in my pocket isn’t real.

Sorry, you showed your hand during the debt ceiling debate; you don’t have 2.6 trillion, or even 26 billion. Not without borrowing on the general fund and incurring more debt.

Unless of course you’re now claiming that the “checks might not go out” claim was a baldfaced lie without any rational reason to make it… are we calling Obama an outright liar now?