Sunday, January 8, 2012

Enjoy your Payroll Tax holiday but don't be confused, you have not gotten a tax cut!

The elected royalty that "We the People" elected are out touting the Payroll Tax cut that they just extended through February 29, 2012.  The problem is this is not a tax cut.  The alleged Payroll Tax is not a tax, it is what is deducted from your pay check to pay into the ponzi scheme otherwise known in America as Social Security, and to pay some portion of the more recent ponzi scheme known as Medicare and Medicad.

Allegedly the money you are required by law to have taken out of your pay check each month is to fund your future retirement,  but sadly due to the mismanagement of the Social Security trust fund (your money) by Congress, today your payments go to pay today's retirees.  Social Security is also allegedly an investment you make (and BTW your employer HAS to match) in your future retirement fund.  Based on those facts Social Security today is, in fact, a ponzi scheme no different than what  Berni Madoff is serving time in jail for right now.  But I digress!

So if we ignore, for a moment, the fact that the elected royalty turned Social Security into a ponzi scheme  what the elected royalty recently voted to do was NOT CUT YOUR TAXES but simply allow you to keep about $80 a month of your money that was allegedly going into your retirement fund, and spend it as you wish or at least sixty more days but do not buy into the hype that Congress and the current President want you to keep more of your own money!

Willie P
A common sense thinking guy from flyover country!

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