Worth repeating

Dear editor:

I have written about this topic before but in light of recent events, feel it bears repeating. It seems our dear leader has taken it upon himself to once again bypass Congress and do his usual damage via the “executive order” to defer, not abolish, the collection of the payroll taxes, aka FICA, and Medicare contributions from paychecks through the end of this year. He’s also promised, if reelected, he would seek to make this deferral permanent, something he cannot do through an executive order, but then when has he let the Constitution or federal laws get in his way?

According to Stephen C. Goss, chief actuary of the Social Security Administration: “if Social Security’s funding were terminated, the Disability Insurance (DI) Trust Fund would be depleted by 2021 and the Old Age and Survivors Insurance (OASI) Trust Fund by 2023 “with no ability to pay benefits thereafter.”

Bear in mind that the payroll tax is not to be confused with federal withholding taxes, which go into the general treasury while the payroll or FICA and Medicare “taxes” go directly to Medicare and Social Security, a distinction that the media does little to nothing to clarify.

And before anyone mentions Obama did it, he did not do it via an executive order, it was through a congressional law and he cut the FICA and Medicare taxes for both employee and employer by 50% for a set period of time and Congress funded the money to reimburse SS Trust Fund and Medicare, unlike Trump who’s only going to temporarily loan you the money that will be due and payable next year and subject to fines and interest until paid. Think about it.

Judith Zitko Hot Springs Village