Obama’s Payroll Tax Cut Defunds Social Security

Attribution: Chip Bok, Creators.com

Before I bring you the following from Rush Limbaugh, I’d like to note that Obama ended his serial class-warfare speech yesterday with: “Let’s get to work.”  Somebody needs to tell Rick about that!

Obama is now 40 minutes late for an appearance on extending the payroll tax cut extension. I have a question, and I’ve asked this question on previous occasions. If, as the liberals say, there is a Social Security trust fund — and if it is funded, as the liberals say, by direct payroll tax deductions…?

In fact, folks, Social Security is funded by only one thing, payroll taxes, FICA. That’s the only way Social Security is funded. So the question then begins: “How does Obama get away with arguing that we need to cut payroll taxes that cut Social Security funding so that individuals have a thousand dollars, but then he also gets to claim to defend Social Security, which he is depleting by his own logic?” Extending the payroll tax cut depletes the Social Security trust fund. For those of you seasoned citizens, you have to understand the language. The payroll tax cut is “cutting taxes” paid into the only mechanism that funds Social Security.  Continue reading at rushlimbaugh.com.

About Alan Berkelhammer

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