In response to:

We Should “Reform” Payroll Taxes, but only if that Means Personal Retirement Accounts

Wumingren Wrote: Jan 03, 2013 12:25 PM
I hope everyone understands that this regime covets our private retirement funds and will likely nationalize them all within the next four years. The funds will be converted to GRAs and we will be locked out of them. Eventually, we will be forced to wait to retire until the actuary tables suggest we will kick the bucket, and any undistributed funds will be retained by the government. Frankly, this government is never going to pay off the national debt, but it will confiscate the people's wealth in order to keep providing for those who will riot in the streets if their entitlements end.

Washington is filled with debate and discussion about the economic burden of the federal income tax, which collected $1.13 trillion in FY2012 ($1.37 trillion if you include the corporate income tax).

Yet politicians rarely consider the economic impact of payroll taxes, even though these levies totaled $.85 trillion during the same fiscal year.

Yes, we had a gimmicky payroll tax holiday for the past few years. And it’s true that Obama has signaled that he wants to

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