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Social Security Advocates Fear Payroll Tax Cut

President Obama's plan to cut payroll taxes for a year would provide big savings for many workers but makes Social Security advocates nervous that it could jeopardize the retirement program's finances. The plan is part of a package of tax cuts and extended unemployment benefits that Obama negotiated with Senate Republican leaders. It would cut workers' share of Social Security taxes by nearly one-third for 2011. Workers making $50,000 in wages would get a $1,000 tax cut; those making $100,000 would get a $2,000 tax cut.

View Source: http://www.foxnews.com/politics/2010/12/12/social-security-advocates-fear-payroll-tax-cut/