Letter: Washington put an end to responsibility taking holiday


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Posted Online: Jan. 08, 2013, 3:10 pm
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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!

Elaine Vinzant,
Moline

















 




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  Today is Monday, Sept. 1, the 244th day of 2014. There are 121 days left in the year.

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1889 -- 125 years ago: Bonnie McGregor, a fleet-footed stallion owned by S.W. Wheelock of this community, covered himself with glory at Lexington, Ky, when he ran a mile in 2:13 1/2. The horse's value was estimated as at least $50,000.
1914 -- 100 years ago: Troops are pouring into Paris to prepare for defense of the city. The German army is reported to be only 60 miles from the capital of France.
1939 -- 75 years ago: The German army has invaded Poland in undeclared warfare. Poland has appealed to Great Britain and France for aid.
1964 -- 50 years ago: Publication of a plant newspaper, the Farmall Works News, has been launched at the Rock Island IHC factory and replaces a managerial newsletter.
1989 -- 25 years ago: Officials predict Monday's Rock Island Labor Parade will be the biggest and best ever. Last minute work continues on floats and costumes for the parade, which steps off a 9:30 a.m.




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