Differing views on payroll tax deferments & elimination - AMAC & The Epoch Times
Mark Tapscott of The Epoch Times surveys a number of people and organizations to gauge support for President Trump’s executive order deferring payroll taxes on Social Security. The move is designed to spur hiring and thus job growth now. Some agree with the move, including Bob Carlstrom, president of AMAC Action, a sister organization to The AMAC Foundation which operates this web site. Carlstrom cites a poll conducted this week showing AMAC members support the payroll tax cut as long as Social Security benefits are not subsequently made subject to the annual congressional budget process. Trump’s suggestion that he will propose permanent reductions in the assessments if he is re-elected in November has drawn the most opposition, however, especially from Democrats. Read the full article here, reprinted on AMAC’s web site.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved by making modest changes in cost of living adjustments and the retirement age, with no additional taxes on workers. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own well researched ideas. One component is Social Security PLUS, a new, voluntary plan that would allow all earners to have more income available at retirement. This component is intended to appeal especially to younger workers. AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years. Read AMAC’s plan here.