A one-year extension of the employee-side payroll tax cut was passed in December of 2011. It's scheduled to lapse along with the other fiscal cliff policies in 2012. This is a particularly popular tax cut because it goes by and large...
In response to:
What the government wants to get what you paid in, if you die without collecting, they are ahead of the game and can then redistribute it to others. Get it? It's not about "fairness" or "right," it's about the game to them and buying votes. That's why they set the age for retirement to 65 when the average longevity age was 55.
The coming fiscal cliff's mix of tax hikes and spending cuts are projected to seriously hamper economic growth over the next two years, and Congressional leaders would be wise to negotiate fixes for the problems. One of the more popular potential fixes, however, is only going to hasten the coming entitlement crisis by worsening the finances of Social Security.
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