[DeaconRed]

If I understand this whole thing correctly, this is nothing.
The only thing that is happening is that the IRS takes out less money from our paychecks. If they take out too much we get it back as a refund. If they don't take out enough we pay on April 15th.
THIS IS NOT A TAX BREAK. . . . . . .
ALL the MSM have the sheepele convinced this is a tax break.
Is this correct? Somebody on here will know the correct answer and flame the hell out of me if I am wrong. . . .

[Safetgiver]

Is this correct?...Hell NO. Whenever I brought up the idea that FICA is a tax, I was ALWAYS corrected by college teachers, politicians and Dems that this is a contribution, NOT a tax. I have always said “just give me back my money, and I’ll consider it even.” I was ALWAYS told by politicians “It’s not your money.”

[ItsOurTimeNow]

THANK YOU!!

Gosh, I wish someone brave enough in the media would point this out! All the “tax cut” does is delay the amount they take from you - that’s all!

Pay up now, or pay up later - either way we still get the shaft...but it’s being played up in the media like it’s an actual tax savings, which it most certainly isn’t!

[andy58-in-nh]

What Congress is doing here is to shortchange a program that is already underfunded, in order to provide a temporary increase in the percentage of people's non-withheld earnings. The "beneficiaries" of this decision are disproportionately people who pay little or no tax to begin with. However, the amount of FICA that is being "put back" into people's paychecks is money that was formerly deducted and paid by employers in the form of a payroll tax, and will now be subject to current tax as ordinary income for the individuals who receive it.

It's the kind of smoke-and-mirrors nonsense that makes people feel good but does nothing to promote economic growth. But that won't stop the White House from ruthlessly demagoguing it, as they do everything else, and without fail.

[Tolerance Sucks Rocks]

FICA taxes are separate from the income taxes you compute on your return. You really are being taxed less.