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More on the Social Security Tax Issue and the Impact on Social Security and Medicare

As we’ve pointed out frequently on this site, the push to suspend payroll taxes as a means to help stimulate the U.S. economy in the wake of the COVID-19 pandemic is an unsound idea when considered in the long-term funding context for these two critical programs. As pointed out in a post today by The Senior Citizens League (TSCL) policy analyst Mary Johnson, such a move “would worsen existing financing problems for Social Security, Medicare, and program beneficiaries,” while not providing benefit to those hurt worst by the pandemic;s fallout–the unemployed. Read her remarks here…

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