Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10 5/3/83; site pyuxa.UUCP
Path: utzoo!watmath!clyde!floyd!harpo!ulysses!gamma!pyuxww!pyuxa!wetcw
From: wetcw@pyuxa.UUCP (T C Wheeler)
Newsgroups: net.taxes
Subject: Re: taxes under Reagan
Message-ID: <647@pyuxa.UUCP>
Date: Tue, 27-Mar-84 09:45:05 EST
Article-I.D.: pyuxa.647
Posted: Tue Mar 27 09:45:05 1984
Date-Received: Wed, 28-Mar-84 01:23:14 EST
References: <12@ssc-vax.UUCP>
Organization: Bell Communications Research, Piscataway N.J.
Lines: 16

[]
Hate to be a spoilsport, but the Social Security Tax is not tied
to the cost of living.  It is based on a formula worked out several
years ago.  You can get a copy of the future payment schedule from
the SS office near you.  The amounts paid out of SS are tied to cost 
of living.  This is why there is such a mess.  The cost of living
went up faster than the taxes being collected.  And, thanks to John
Kennedy, the SS taxes collected are no longer put into a trust fund,
but dumped into general revenue.  At the time it was done, Congress
wanted to get it's hands on the huge pie that was just sitting there
so they could use it for their pet proects.  They did get the money,
with Kennedy's blessings, and did squander the huge surplus so that
we are now in it up to our necks.

T. C. Wheeler