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re: Payroll Tax Should Be Eliminated Permanetly

Posted on 8/9/20 at 8:24 am to
Posted by Warfarer
Dothan, AL
Member since May 2010
12148 posts
Posted on 8/9/20 at 8:24 am to
quote:

Yes.

And also give me back all of my contributions that i have made over the years while we are at it.



this is how I would be ok with them doing away with Social Security. I am 42 and have been paying taxes since I was 14, officially working and on payrolls. 28 years of my life have been paying into a system that they abuse and that people who put in less are drawing from. Give me back my money, hell I will even not charge interest (which I should be wanting) to get out of it and invest how I want.
Posted by DavidTheGnome
Monroe
Member since Apr 2015
29522 posts
Posted on 8/9/20 at 8:48 am to
For those wanting to do away with SS the way it would have to work is you’ll just have to view the money already paid into as a sunk cost and won’t be getting it back. There's not a SS bank account for you that you can withdraw your funds, it’s setup so that everybody's contribution to the pot goes out to all the recipients.

And to be honest if we did away with it we’d have to pick an age that’s young enough to save for retirement (say 40) and we’ll call that the Fricked Generation. They’ll have to keep paying SS to support all the old fricks who depend on it but would have to be of the understanding they’ll never receive a dime.
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