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Payroll Tax Cut
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<blockquote data-quote="fishtm2001" data-source="post: 4578310" data-attributes="member: 54375"><p>Lots of errors in that video. </p><p>1. There was never any provision of law making the Social Security taxes paid by employees deductible for income tax purposes. In fact, the 1935 law expressly forbid this idea, in Section 803 of Title VIII.</p><p></p><p>2. The Social Security Trust Fund has never been "put into the general fund of the government." </p><p></p><p>3. The taxation of Social Security began in 1984 following passage of a set of Amendments in 1983, which were signed into law by President Reagan in April 1983. </p><p></p><p>4. Neither immigrants nor anyone else is able to collect Social Security benefits without someone paying Social Security payroll taxes into the system.</p></blockquote><p></p>
[QUOTE="fishtm2001, post: 4578310, member: 54375"] Lots of errors in that video. 1. There was never any provision of law making the Social Security taxes paid by employees deductible for income tax purposes. In fact, the 1935 law expressly forbid this idea, in Section 803 of Title VIII. 2. The Social Security Trust Fund has never been "put into the general fund of the government." 3. The taxation of Social Security began in 1984 following passage of a set of Amendments in 1983, which were signed into law by President Reagan in April 1983. 4. Neither immigrants nor anyone else is able to collect Social Security benefits without someone paying Social Security payroll taxes into the system. [/QUOTE]
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