* In 2010, the 111th Congress and Democratic President Barack Obama passed a law decreasing the Social Security payroll tax during 2011 by two percentage points (from 12.4% to 10.4%).
This law also requires that monies equivalent to the decreased payroll taxes be transferred to the Social Security program from the general fund of the U.S. Treasury.
The general fund of the U.S. Treasury is funded by income taxes (66%), corporate income taxes (23%), excise taxes (5%), and other miscellaneous taxes (6%) [percentages current as of 2006].
Originally posted by Sinnthia
reply to post by mydarkpassenger
reply to post by boondock-saint
reply to post by Lemon.Fresh
reply to post by CaptainTrips
reply to post by sonofliberty1776
reply to post by macman
reply to post by proph17128
No one is begging any of you to stay. Not one of you mentioned "if it were not for my job or family or friends" so what is the holdup? You all hate the US and no longer wish to be part of it. I do not understand why I am reading about it instead of just not noticing you anymore? There is an exit in every direction. I really do not understand why anyone would sit on a computer in the United States and type away about how much they would like to leave it. Just go.
But nice try butcherguy. Interesting angle, attacking a liberal as not caring for the poor.
Originally posted by Whereweheaded
reply to post by Rastus3663
The history of the Social Security program was laughable at best. The Social Security Act was signed by President Franklin Roosevelt on August 14, 1935. From 1937 (when taxes were first collected) through 2009 the Social Security program has received $13.8 trillion in income. That alone, ( total income for the program ) probably caught someones eye down the pipe line. And by doing so, thats when the " scheme ", of using those funds for other expenditures began taking place. Now that the years of past us by, and that account is almost belly up, theres not much hope for those of us who would be retiring in the future.
Originally posted by butcherguy
But it certainly wasn't an attack, I even like liberals way too much to attack them, now-a-days, anyway.
I'd sooner attack racists now.