> Social Security and Medicare taxes have always been mixed in with regular income taxes
No, they never had. In fact, 47% of the population doesn’t pay income taxes at all, just payroll taxes, which are capped rather than progressive (anti progressive, actually).
The government does borrow money via IOUs to fund things like military mostly, but they also borrow money via treasuries, are you saying China’s export surplus should be mixed with regular income taxes as well?
Despite all of the accounting tricks, at the end of the day, “payroll taxes” are spent to fund every part of the government just like all of the other taxes. We just happen to have a surplus now.
Once the tide turns and social security is running at a deficit, regular income tax will have to pay for social security. It’s all the same money.
We already don’t have a surplus in payroll taxes, and will in a decade or two run out of the money already lent to the general fund. Still, that money has already been allocated and Americans have been paying for it specifically. If congress meant otherwise, they should have included it as a benefit paid for via taxes, but they didn’t set t up that way at all.
Congress only "means" what makes them look good for the next election cycle. But sooner or later, either benefits will have to be cut, or taxes raised. Either way Congress won't be able to do what they said they could do.
No, they never had. In fact, 47% of the population doesn’t pay income taxes at all, just payroll taxes, which are capped rather than progressive (anti progressive, actually).
The government does borrow money via IOUs to fund things like military mostly, but they also borrow money via treasuries, are you saying China’s export surplus should be mixed with regular income taxes as well?