in the "entitllements" of Social Security and Medicare is a Distraction, an old ploy of finding someone or something to BLAME. Though its old it works because its broadcasted continually on TV News, and not one "Pundit" has the guts to inform and educate The People.
Do you all know about the CAP on FICA Tax payments? Do you know that the CAP was $110,000 in 2012? That means that the 12.4% earmarked for SS, 6.2% deducted from an employee's pay, with a matching 6.2% by your employer, ceases being deducted on every dollar you make above $110K. On top of this with the widening Wage Gap that has been Increasing results in about 70% of Wages escaping this Tax.
While I should argue for removing the CAP entirely, a simple increase raising the CAP to $250K would not only fully Fund SS, there would be enough of a surplus to fund any supposed future deficit in Medicare. The Tax could actually be lowered if this was done. Some people believe the first $20K of Wages should Not pay into FICA. And in case you don't know it, this Tax is not subject to any refund or return on, unlike regular Federal Income Tax..........Its just amazing to know the Truth, yet you won't hear a single person mention this on TV or read it in a widelr read news outlet. I suppose that would end a career.
You know this whole fiasco about whether to lt the Bush tax break expire could be ended by the Admin saying, OK we can let the 4% break stay...BUT I'm removing the FICA Cap......they would then have to find something new to Blame and use to Distract away from the krooks we all see