Payroll tax cut burdens retirees most
I have several issues concerning the attempt of Congress to extend the tax “holiday” on Social Security contributions. First, both Democrats and Republicans introduced this tax “holiday” last year to help the most needy of our economy — the middle class worker. Huh? How about senior citizens who do not have a job and thus receive zero, notta, nothing from this “holiday”? Do you think people who have jobs are more needy than senior citizens who have had their retirement funds demolished by the economic meltdown and have to rely on Social Security to survive?
And then this administration is proposing to continue defunding this near-bankrupt system that is a critical senior citizen financial resource. What is wrong with this picture?
A common sense Congress should do just the opposite: increase the worker contributions by at least 1 percent or 2 percent. There are no senior citizen “holidays” on the horizon.
Bill Koller
Des Plaines