What a screw up by Liberals on the Tax break cave in they allowed to be passed. Apparently, The Democrats knew the real truth about Social Security when they voted on this, but to look good, they're willing to do anything to gain Political Points.
They had the Majority, They had the Truth, but they did what they did anyway:
http://taxes.about.com/b/2010/12/20/the-tax-relief-act-of-2010-income-tax-provisions.htm?r=94
Social Security tax rates will be reduced by two percentage points. The employee-portion of Social Security taxes will be reduced from the current 6.2% to a temporary rate of 4.2% for 2011 only. The employer-portion remains the same at 6.2%; and the Social Security wage base remains the same at $106,800 for 2011. Medicare tax rates are not changed: remaining at 1.45% each for employees and employers. Freelancers, farmers and other self-employed persons will see a corresponding reduction in their self-employment tax. The total 15.3% self-employment tax rate is temporarily reduced for 2011 to 13.3%. Self-employed persons will still be able to deduct the full amount of the employer's portion as an adjustment to income. Congress has directed the Treasury to reimburse the Social Security trust fund for the full amount of the reduced Social Security taxes out of the general fund.
But they still told us, before the dreaded "You will not get paid" speech by President (The Fear Monger) Obama, :THERE IS NO PROBLEM":
http://www.factcheck.org/2011/02/democrats-deny-social-securitys-red-ink/
Feb. 15, 2011 Obama held a White House news conference to defend his budget proposal for fiscal year 2012. And here’s what he said about cutting entitlement spending:
Obama: Now, you talked about Social Security, Medicare and Medicaid. The truth is Social Security is not the huge contributor to the deficit that the other two entitlements are.
Feb. 16, 2011 Senate Majority Leader Harry Reid of Nevada:
Reid: Social Security has contributed not a single penny to the deficit. So we can talk about entitlements as long as you eliminate Social Security. . . . Social Security is not part of the problem we have in America with the deficit.
Feb. 20, 2011: Sen. Richard Durbin on NBC’s "Meet the Press":
Durbin: Social Security does not add one penny to the deficit . Social Security untouched will make every promised payment for more than 25 years.
Max Gleischman: We can argue line items and budget allocations all day — our position is that ss doesn’t add to the deficit. Jack Lew and the President agree.
Feb. 20, 2011: Sen. Chuck Schumer of New York, on CNN’s "State of the Union" with Candy Crowley:
Schumer: Social Security, however, does not contribute one penny to the deficit and won’t until 2037.
Brian Fallon: This is nitpicking to the nth degree. Social Security is a standalone program and is fully solvent. Our deficit problem lies not with Social Security, but with the rest of the budget.
Feb. 22, 2011 opinion piece in USA Today claiming that Social Security "does not cause our deficits" and is "entirely self-financing":
Lew: [L]ooking to the next two decades, Social Security does not cause our deficits. Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers.
Ooops, I guess Obama and the Democrats shouldn’t have believed their decades long "Scare Tactic" rhetoric and not think it would eventually come back to bite them in the butt !
Now President Obama is “whining” and “Fear Mongering”, to raise deficit spending, to cover a solvent social security ??????
As if this has come as a big surprise to him. It's not a suprise, and he now needs to play God and save all the seniors by raising the deficit and threatening to not pay those on Social Security. What a great guy, isn't he. "I will cause your pain if you don't go after the Republicans and stop them".
Liberals will tell you, the Republicans are the “Anti-Christ”, “Fear mongers”, “Granny Killers” etc… for even concidering adjustments in Social Security years ago, but I guess Liberals need to learn the hard way, Well, we are going to learn the hard way, Liberals will flat out Lie to get what they want even when they know the truth. Social Security is apparently NOT Solvent.
Just listen to the truth about the solvency of Social Security from the President, without a teleprompter:
http://www.cbsnews.com/8301-503544_162-20078789-503544.html
"But I thought Social Security was Solvent" ? Ask any Liberal.
Again I say this : JOE WILSON WAS RIGHT, as Usual. “You Lie” !



