Dear editor:
Are President Trump and Speaker Paul Ryan trying to destroy SS via a back door? There's a tax "reform" concept being floated about regarding a plan that could seriously threaten the future of our SS.
Currently we have a payroll tax called FICA, meaning Federal Insurance Contributions Act, which fully funds the Social Security retirement and disability programs. This money is not included in the general revenues, thereby not subject to discretionary spending within the budget. If the FICA tax was repealed and Congress changed the method of funding with a tax that went into the general revenues, as opposed to the separate fund now, it would be subject to budget cuts.
This is a highly destructive plan which does not bode well for the future of SS. Why Republicans are so obsessed with SS and Medicare should be a red flag to anyone close to retirement or currently receiving benefits.
The AP reported recently that Trump and Ryan had "considered" repealing the FICA tax and selling the idea as a middle class "tax cut." When you take into account that nearly half the money contributed to SS is paid by employers who pay a matching amount. The exception is self-employed or contract workers who pay the self-employment tax, meaning they pay both halves of the FICA and Medicare taxes.
I don't know for a fact, but I rather suspect that doing away with SS is more about giving employers a tax cut than anything else, which seems to be the driving agenda of the GOP.
Make sure your representative and senators are made aware that you strongly oppose this very bad plan and they are to take steps to strengthen, not weaken, SS.
Judith Zitko
Hot Springs Village
Editorial on 04/23/2017