Mercatus Center senior research fellow and Social Security trustee Chuck Blahous has a post up at Fox News asking Congress to think twice about the consequences of extending the supposedly temporary payroll tax cut at the end of this year. Blahous writes:
Specifically, the proposal would accelerate a process begun last December: transforming Social Security from what it long has been—a benefit earned by worker contributions—into an income tax based system more akin to welfare.
But isn’t this a development many conservatives would embrace? Consider The Heritage Foundation’s section on Social Security in their Saving the American Dream long-term budget plan:
The more Democrats cut Social Security’s primary funding source, the payroll tax, the more the myth of Social Security as a separate program, with a real trust fund, will be exposed.
Getting the American people hooked on big government by giving them all Social Security benefits, regardless of need, was one of the best political bets Democrats ever made. But now, in a short sighted attempt to goose the economy, the Democrats want to undermine this accomplishment. Let them. Let the Democrats have their payroll tax cut … but only if its permanent.
