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View Diary: Durbin takes Social Security off the table (216 comments)

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  •  Not really (8+ / 0-)

    The payroll tax holiday does not affect your retirement payout; you're getting credited for the full (6.2%) amount of your contribution despite the holiday.

    The funds for the payroll tax holiday are being replaced by general revenue; the payroll tax cut was just a mechanism to engage in some stimulative deficit spending.

    •  Yes. This keeps getting misstated. There's no (0+ / 0-)

      defunding.

      And payroll tax cuts are cuts for the poor & middle, whose pay is usually under the cap.

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