Anthony Weiner represents everything that is wrong with our political system and demonstrates why lying has become so second nature to politicians. There was no better example than when he recently appeared on the Hannity Show and said that Social Security was flush with a ‘surplus’ of cash and that it will be in great shape though 2037. It’s a lie and he knows it.
Yes, Social Security is flush with $2 trillion, which is enough to write checks to 54 million people, or 17% of our population. But it is borrowed money. The $2 trillion principle along with the interest has been borrowed from red, communist China. That’s a debt, not a surplus as Weiner states.
The money paid into the Social Security Ponzi scheme comes from payroll taxes; the cruelest of all taxes. We contribute more in withholding taxes than Social Security has the ability to pay to its recipients. The problem is that Congress steals the money as soon as it goes to the Treasury in order to fund government pork and pet projects. It also goes to compensate for the tax revenue lost by giving the elitists at Goldman Sachs (CEO Lloyd Blankfein) and JP Morgan (CEO Jamie Dimon) on their dividends and other perks. This has left a huge hole in the Social Security fund, and it’s put us at the mercy of the red communists.
What our government and CNBC don’t want you to know is that it’s the middle class that’s getting screwed by the payroll withholding tax. This includes the shelf stockers, carpenters, UPS drivers, and bartenders. The middle class bears 75% of this nation’s tax burden so that the rich, like ‘banksters’ Dimon and Blankfein, can reduce their tax burden from 30% to 15%. Payroll taxes will likely be raised instead of cut, enabling the elite in this country to pay less tax on their perks at the expense of the working class. This is why politicians would rather talk about federal income taxes than the withholding tax while on the campaign trail. They don’t want the voter to know that payroll taxes subsidize the rich and pay for our representatives’ pork projects.
The other problem with the payroll tax is that it takes the biggest slice out of the paycheck of the entry level worker, with no exemptions or deductions. This is yet another reason why this is the cruelest of all taxes. We need to petition our representatives to lighten the load on the middle class worker and their employers to restore the balance between taxes on work and taxes on perks.
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Wednesday April 16th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Monday April 14th, 2014 | John Ransom