A Quote by James Surowiecki

Unlike most government programs, Social Security and, in part, Medicare are funded by payroll taxes dedicated specifically to them. Some of the tax revenue pays for current benefits; anything that's left over goes into trust funds for the future. The programs were designed this way for political reasons.

James Surowiecki

Quote Topics

Anything Benefits Current Dedicated Designed Funds Future Goes Government Government Program Government Programs His Way Left Medicare Most Over Part Payroll Payroll Tax Pays Political Programs Reasons Revenue Security Social Social Security Some Specifically Tax Taxes Them Trust Trust Fund Trust Funds Unlike Way Were

Quote Author

James Surowiecki
American - Journalist
Born: April 30, 1967

The revenue stream for Social Security benefits comes from payroll taxes, which are credited to the Social Security Trust Fund - accounting for the program's finances separately from the rest of the budget.

Jerome Powell

We need to preserve programs like Social Security and Medicare for our seniors of today and tomorrow. But we need to strengthen both Social Security and Medicare to make sure these programs are still available for future generations.

Joni Ernst

Evidence is mounting that faith-based service programs are often more successful than other programs in correcting social problems. [It is wrong] for government to demand that religious nonprofits gut precisely that part of their program [funded through tax dollars] that makes them so effective.

Ronald J. Sider

What I think people should realize is that programs like Social Security, programs like Medicare, programs like the Veterans Administration, programs like your local park and your local library - those are, if you like, socialist programs; they're run by [and] for the public, not to make money. I think in many ways we should expand that concept so that the American people can enjoy the same benefits that people all over the world are currently enjoying.

Bernie Sanders

Open the borders to willing workers from any and all nations. They will create businesses that pay taxes, especially payroll taxes to fund Medicare and Social Security benefits of retiring baby boomers.

Louis Navellier

It has to have a payroll tax that's dedicated to Social Security. The Social Security tax has been very successful over the years in raising almost all of our elderly citizens out of poverty.

James Roosevelt

In normal times, at the beginning of each month, the federal government makes a cash advance to the Social Security Trust Fund called the 'normalized tax transfer,' in an amount equal to the estimated payroll taxes for the coming month.

Jerome Powell

To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.

Ben Bernanke

Social Security is a widely popular program because the individual has been deceived by the Statist to believe that the government has been prudently and diligently managing his accumulated pension investment in his Social Security account, which he presumes to be funded by his own payroll taxes.

Mark Levin

The poverty we see in America is now too widespread, and too complex, for easy fixes. But I do think we can reimagine many of our institutions and can create new ones in ways that would be effective. We could, for example, create social insurance systems, similar to social security, such as that we went through in 2008-9. We could create a financial transaction tax, oil profit taxes and a fairer estate tax system, and we could plow much of the revenue raised from these into job training programs, into better education infrastructure, into an expanded Earned Income Tax Credit.

Sasha Abramsky

More retirees, longer life expectancy, larger benefits, and fewer workers - these trends have meant substantial increases in the payroll tax. Since the social security program began, the payroll tax has increased more than 500 percent.

Alex Tabarrok

I'll give you a simple formula for straightening out the problems of the United States. First, you tax the churches. You take the tax off of capital gains and the tax off of savings. You decriminalize all and tax them same way as you do alcohol. You decriminalize . You make gambling legal. That will put the budget back on the road to recovery, and you'll have plenty of tax revenue coming in for all of your social programs, and to run the army.

Frank Zappa

Social Security may be the most beloved of all the government's programs, partly because it requires so little thinking. You pay taxes while you work, then you and your spouse collect until you die.

Richard Thaler

So you've got these regular, middle-class voters who don't hate the government as much as the Kochs do. They're Republicans, but they still want government programs. They want Social Security, they want Medicare. They need it.

Jane Mayer

I am just one of the overwhelming majority of Americans who is responsible and hard-working and at one point in their life benefited greatly from government programs such as student loans, Medicare, and Social Security.

Tammy Duckworth

By finding waste and abuse in entitlement programs, and eliminating it, we can ensure that the funds that are put into these programs go to the people that need them the most.

Jim Ryun

A Quote by James Surowiecki

Quote Topics

Quote Author

Related Quotes

Related Authors