- Sep 19, 2011
- 28,222
- 9,816
- 900
Yes, the payroll tax cut is a horrible precedent. It can no longer be said that Social Security does not contribute to the deficit.
OK.. THE FACTS are here is where ALL the Federal Governments gets Revenue:
sources
Income Taxes 1,090.0
Social Insurance Taxes 864.8 39.9% of total income from social security tax!
Ad-valorem Taxes 132.1
Business and Other Revenue 75.8
Total Direct Revenue 2,162.7
Federal Deficit 1,293.5
Gross Public Debt 13,528.8
Government Revenue Details: Federal State Local for 2010 - Charts