ABC News: Obama Floats Social Security Tax Hike:
"'If we kept the payroll tax rate exactly the same but applied it to all earnings and not just the first $97,000,' Obama wrote this week in an Iowa newspaper, 'we could eliminate the entire Social Security shortfall.'"
Again, there is NO Social Security shortfall projected until 2046. Repeat: 2046! There has never been a time in the history of the Social Security program that it was in such good financial shape. For a major party candidate to not only say such a thing but to actually believe it to be true is mind-boggling to me. I had considered supporting Mr. Obama but if he can't understand this concept, nor hire a consultant who understands this concept, then how can he run the country?