Hidden Mortgage Fee Paying for Payroll Tax Cut
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- Created on Tuesday, 07 February 2012 12:03
Before Christmas, Washington was in full spin mode trying to pass an extension to the payroll tax cut. Congress ended up extending it for two months, despite economists saying it hadn't helped much in the first place. The payroll tax cut is supposed to fund Social Security, thus, lower revenue reduces Social Security funding. Democrats are the party that constantly lie and say Republicans want to end Social Security, yet they're for reducing the funding of the entitlement program. Republicans failed to point this out at the time of the debate. The payroll tax cut has to get funded by something and we now know what that "something" is. A hidden mortgage fee is paying for the payroll tax cut. This was never communicated to Americans, but new homeowners are finding out the hard way.