Yes, as the article linked below states, if you cut payroll taxes (meaning that pesky fica deduction that comes out of a person’s paycheck), then you cut the funding mechanism for Social Security and roughly half the country at retirement winds up with nothing, and nearly half of the rest winds up with much much less. The majority of Americans have less than $1000 on hand to deal with any kind of financial emergency, most don’t have a defined retirement benefit, and half or more than half don’t have a 401(k).
I am a former disability examiner and I publish the website Social Security Disability Resource Center, or SSDRC for short. I also maintain a facebook page for SSDRC (Social Security Disability Blog).
Neither this blog, nor the facebook page, nor my website are affiliated with the Social Security Administration.
