Yes, you have it wrong. Except for the self-employed and those who overpaid SS taxes because of switching jobs, the tax return due in April has nothing to do with SS taxes. It is taken directly out of your paycheck and never has to be reported on a return or used to calculate the refund or amount owed.
Consumers got a temporary stimulus from lowered withholding but still owe the same in taxes.
No, taxes were actually lowered. Since I fill out forms as if I'm self employed (partner at a company not subject to withholding), I paid 4.2% for my "employee" half of the self employment tax and 6.2% for my "employer" half (along with 1.45% + 1.45% for Medicare). Before 2011 it was 6.2% + 6.2% + 1.45% + 1.45%.
OK, thanks.