Jerry Notaro wrote:
> from THE KANSAS CITY STAR
>
> In the drive to cut taxes this year, President Bush and Congress
> ignored the federal tax that hits the vast majority of Americans the
> hardest: the payroll tax that supports Social Security and Medicare.
>
> This was an odd omission because this tax (noted as FICA on pay
> stubs) has been responsible for most of the federal budget surpluses
> that were used to justify the tax cuts.
> ...
> But that celebration is likely to grate on the millions of
> federal taxpayers who did not get a tax cut - particularly if they
> hear more talk in Washington this year about possible increases in
> the federal tax that hits them the hardest.
It's especially grating because only wages up to $80,400 are taxed for
Social Security, so it's not a program that any of Dubya's pals are putting
much money toward.
Dubya's main concern with this program will be how he can benefit his
wealthy pals and one way is to privatize part of Social Security. So he's
been suggesting that very thing. With that, his pals will not only pay a
relatively tiny amount of tax they can also make money off of the people
paying the most tax. The banking industry will LOVE that!!!
And we'll be told it's all for our benefit...
Our selected president is not very bright but he sure is a sly fox when it
comes to selling out the majority of the people in this country for the
benefit of a few.
Debra Shea
