[E. Pluribus Unum]

So does this mean that next tax year since we will be under-withheld?

[jagusafr]

Just noticed that in my paycheck yesterday. I’ll take it, but it was a bit of a surprise.

Colonel, USAFR

[pacpam]

A shame there will be no push to ‘save’ that 2% for investment toward retirement. Educational opportunity wasted on the already ignorant.

[Gaffer]

Your article is a bit "dramaqueenish" and takes too long to get to the point. Of course, any real taxpayer knows what happens with their SS contributions - they go to the current oldsters' monthly payments, and the excess funds the oldsters' monthly payments.

While most people see this 1/3 cut as more money, it doesn't make a damned bit of difference to people making over the max withholding; it'll just take a little while longer to make that freedom point. What this really is, is a tax cut for middle and lower income people who will never reach that withholding maximum. It isn't rocket science.

[sickoflibs]

Yep, not only did they spend part of our SS/FICA payroll taxes for decades; but after raising hell about Bush trying to bankrupt SS by allowing us to put some of the FICA money in a retirement savings account, Obama and Democrats happily passed a bill that allows us to put some of our FICA money in our pockets, bank accounts or... retirement saving accounts; The only difference is this FICA tax cut bill is supposedly temporary.

The progressives/liberals over at MSNBC have been complaining about that progressive FICA tax cut because they were very happy claiming SS is fully funded for decades (the CBO spreads this crap ) and a great success, and now no-one will believe that anymore.

[So Cal Rocket]

The 2% reduction in the employee’s SS tax rate will expire at the end of the year.

NOW is the time for a conservative in Congress to propose that when the 2% comes back, it does not go into the so-called “lock box”, but rather is invested in an individual account in the employee’s name that he can’t touch until he is eligible to draw Social Security.