Letter to the editor: Will government tap into Social Security?

Posted 7/14/21

To the Editor:

Although there is humor in Joe Heller’s cartoon (“Help Wanted,” the Chatham Brew, July 9) the flipside could turn all smiles upside down.

None of the stimulus checks are …

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Letter to the editor: Will government tap into Social Security?

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To the Editor:

Although there is humor in Joe Heller’s cartoon (“Help Wanted,” the Chatham Brew, July 9) the flipside could turn all smiles upside down.

None of the stimulus checks are taxable. With the majority of Americans receiving stimulus checks instead of working, the government is receiving very little taxes from payroll checks. Because businesses have a problem getting anyone to work due to stimulus checks and their business is making little to no money, the government will be receiving little to no corporation taxes.

Some businesses may have to close their doors permanently, which means the government’s loss of future corporation taxes. Businesses closing their doors would also mean loss of jobs for anyone who, in the future, would decide to work and pay taxes.

Since the money our government is spending comes from taxes paid by Americans, has anyone given thought to what happens when the government, due to the loss of taxes paid by Americans, is having trouble meeting its trillion dollar budget? My guess is, as always, the first money the government taps into will be Social Security. Will Social Security finally be depleted?

Carol Gene Good
Conover

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