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dangood commented on the blog post About Those Talking Heads
“Payroll taxes” are not taxes: they are insurance premiums. They are paid by working Americans for a specific purpose and should not be confused with income and other taxes. Taxes are used for general expenses of the government. Social Security Premiums are paid into the Social Security Trust Fund pending payment to beneficiaries. They operate just as any other insurance plan. They are not entitlements nor are they taxes. Calling them taxes opens them up to be compared with entitlements and other negatively perceived schemes. Social Security is based on annuity tables and should be strengthened because of changing demographics. The reason they are government operated is to keep down the cost and not oblige people to pay into a private plan the way the present dysfunctional medical insurance works. It would be the end of Obama if he allows Social secirity to be tampered with.
