My God, you're uninformed.
The tax cuts of working people we done through the employment tax system only as a mechanism. The funding lost in those cuts was replaced out of the general fund.
It was a way that only working people got the tax break.
Do yourself a freakin favor & get better informed.
Yeah, I'll try that. Now it's your turn:
Impact on Social Security. Payroll taxes are the main source of revenue for Old Age, Survivors and Disability Insurance (OASDI), or Social Security benefits. The unfunded liability of the OASDI program is the difference between the benefits that have been promised to current and future retirees and projected collections of dedicated taxes. As of this year, the unfunded liability into the indefinite future, called the infinite horizon, is $20.5 trillion plus a trust fund debt of $2.5 trillion, according to the Social Security Trustees’ report.
The payroll tax cut has had a negative effect on the annual operations of Social Security. Since its inception it has:
- Reduced Social Security payroll revenues 16 percent; and,
- Decreased revenue $103 billion in 2011 and an estimated $112 billion in 2012.
Though seemingly a drop in the bucket, the payroll tax cut increased Social Security’s real unfunded liability by
$215 billion plus interest.
- See more at:
The Payroll Tax Holiday
The reduced amount was replaced by the general fund. Why is that too hard for you to understand. Using the payroll tax, it enabled a tax break to working people. The transfer from the general fund was in the bill
"A White House official dismissed the concerns. "It is explicitly
temporary and there's a general revenue transfer in the bill so it will
not negatively impact the social security trust fund at all," he said.
Senate Majority Leader Harry Reid, a strong defender of Social
Security, told HuffPost he isn't worried about the threat to the
program. "The money doesn't come out of Social Security. It comes out of
the general fund," said Reid.
Reid is correct. The revenue that is lost to the payroll tax cut will
be forwarded from the general fund to Social Security. But it will then
become a line-item in the federal budget, a tempting one to cut."