[andyfox]

I stand by my word "looted." Since 1983, the government has spent almost $5.4 trillion more than it took in. But the debt grew by "only" $3.6 trillion because of excess Social Security taxes. The rise in Social Security taxes has finances income tax cuts.

I hope the president addresses the Social Security tax travesty when he turns to tax simplification. Economists of all stripes ageee that the Social Security tax payed by the employer (which is also 6.2% up to $87,000) is really paid by workers, that it is simply an invisible part of their compensation. Thus a married couple who together earns $87,000 pays $10,788 in Social Security taxes, which is the same amount as a married couple who together earn $1,087,0000 or $100,087,000.