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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Oct 6, 2011 / 8 Tishrei, 5772

Obama Plan Makes Social Security Look Like Welfare

By Debra J. Saunders

Debra J. Saunders



http://www.JewishWorldReview.com | Who poses the biggest threat to destroy Social Security? President Barack Obama.

In December 2010, Obama signed a tax deal with his provision for a one-year, 2 percent Social Security payroll tax holiday. It lowered workers' payroll deductions from 6.2 percent to 4.2 percent in 2011. This year, Obama proposed increasing the tax holiday for another year, with workers paying half the old rate -- 3.1 percent -- as part of his American Jobs Act. According to the White House, a typical family earning $50,000 a year could expect to save $1,500.

Obama deftly co-opted the argument that Republicans successfully have used to extend the Bush tax cuts. Last month he argued that if Washington fails to extend the 2011 tax cut, "middle-class families will get hit with a tax increase at the worst possible time."

Clever.

The president also proposed halving the employer contribution to 3.1 percent for an employer's first $5 million in wages and waiving the full freight for some new hires. Add it all up and Obama wants to cut Social Security payroll taxes by $240 billion next year.

First Washington raided the Social Security trust fund to pay for increased spending. Now Washington is raiding the trust fund to pay for tax cuts.

Stanford University economist John Taylor, who has been an adviser to John McCain, studied the temporary tax cuts proposed to stimulate the economy under George W. Bush and Obama. "These are, at best, short-term boosts, which disappear quickly," Taylor told me, and they "don't reduce the unemployment rate."

Economist Will McBride of the Tax Foundation also believes that the Obama plan would not provide the needed job stimulus. He noted that in 2010, the Social Security fund started paying out more than it takes in. Slashing revenue "just exacerbates that problem." McBride fears that if the Obama jobs bill passes, "Moody's and Fitch will downgrade us (the U.S. credit rating), as well as S&P."

The White House promises that "Social Security will still receive every dollar it would have gotten otherwise." Oh, joy, another IOU.

Be afraid. If a one-year tax holiday becomes a bigger two-year tax holiday, it could snowball. Rep. Peter DeFazio, D-Ore., fears that the cut will be renewed in perpetuity. "If this becomes permanent, then Social Security would be exhausted in 2021, instead of 2037," DeFazio told the Washington newspaper The Hill. DeFazio wants to increase payroll taxes on incomes higher than $250,000 -- the current cap is $106,800 -- to fully fund Social Security. Now, I think DeFazio's proposal would poison any economic recovery -- but at least he is thinking about the fund's solvency.

House Budget Committee Chairman Paul Ryan predicts that the Obama plan could change the way Americans look at Social Security. At the Hoover Institution last week, Ryan told me that if Washington "de-links Social Security's financing from labor and reward -- from payroll taxes to benefit -- we're risking changing the social-insurance nature of the program and turning it into a welfare program."

Close to 40 percent of Americans pay no federal income taxes. Now Obama wants to halve the only payroll tax they pay. That would leave a bigger tax burden on those who do pay federal taxes. And yes, Social Security would start looking like welfare.

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© 2011, Creators Syndicate

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