Payroll tax cut is just a raid on future funds

What is a tax cut? Excuse me, but for the sake of argument, let's say that I pay a federal income tax of 20 percent and the government decides to reduce my rate to 18 percent. Yea!

Recently, President Obama and Congress argued over a payroll tax cut of 2 percent, but in actuality it is not a federal income tax cut. It is actually a cut from our Social Security Trust Fund. A fund that is said to be sacrosanct.

We have been told many times that this fund is in trouble and it will be become insolvent unless we do something about it. Yet our politicians evidently have no qualms about raiding this fund for political expediency. Unfortunately, they all know full well that the consequences of this theft will only hasten the demise of the trust fund and will do little to improve our economy.

Is this just another example of Congress and the president robbing Peter to pay Paul?

John Petermann

Cedar Rapids