Time to Let the “Payroll Tax Holiday” Expire

President Bush raised the issue of saving Social Security over ten years ago. Even our youth know they cannot rely on Social Security.

In light of this, I thought it was wrong to cut our Social Security payments (also known as the payroll tax or FICA) for 2011. Why cut $100 billion in payments to a program that is teetering on the edge of bankruptcy? So they tried it for a year to stimulate economic growth. It did not work. It is clearly time to let the payroll tax holiday expire.

So why are many Republicans and most Democrats in Congress now discussing an extension to the payroll tax holiday for another year? Have they conceded that Social Security is doomed?