One year ago I had a letter published in this newspaper wondering when the government would stop robbing the Senior Citizens' Piggy Bank. In other words, how long would the payroll tax holiday last?
We now know that it lasted two years, when job holders paid 2 percent less than previously toward the Federal Insurance Contribution Act (FICA), which provides funding for the Social Security Trust Fund.
Now that you who are currently employed are again required to pay 6.4 percent instead of 4.4 percent FICA taxes, commonly known as "payroll" taxes, many of you are grumbling about having to pay the customary contribution to your future Social Security pension. Why don't those of you who got the payroll tax break quit complaining and just be thankful that you were essentially given a bonus of 2 percent during 2011 and 2012?
During the two year payroll tax holiday, the Social Security Trust Fund lost billions and billions of dollars, meaning that it will run out of money to pay current and future Social Security recipients their pensions even sooner than expected unless reforms are made.
Please let your senators and representatives know that you want them to start looking for a solution to this looming financial fiasco sooner rather than later!
Today is Saturday, May 25, the 145th day of 2013. There are 220 days left in the year. 1863 -- 150 years ago: The annual review of the fire department of this city took placeyesterday and made a fine showing with machines and hose carts in tip-top order. 1888 -- 125 years ago: Last night's prayer meeting at Central Presbyterian Church wascalled off due to water in the basement, residue of last week's flood. 1913 -- 100 years ago: The junior class of Rock Island High School will hold a riverexcursion on the steamer St. Paul next Tuesday. 1938 -- 75 years ago: The 75th Anniversary of the Rock Island Arsenal today finds thenation's largest ordinance manufacturing plant filling many important orders for the army. 1963 -- 50 years ago: Miss Patrice Daly, Rock Island, a senior at Rock Island HighSchool, won second place in the recent state public speaking contest held in Peoria underthe auspices of the Knights of Pythias. 1988 -- 25 years ago: Hampton's sesquicentennial committee and the Hampton HistoricalSociety have scheduled a full slate of activities, which will be held throughout the year, to celebrate the village's 150th birthday. The first celebration will be the Memorial Dayprogram at 10 a.m. May 30, at the Brettun and Black Store Museum on River Road. Therewill be a sesquicentennial display.