California proposes state Social Security tax

Fox News reports:

California lawmakers are pushing a controversial, first-in-the-nation plan that would require private-sector employers to remove 3 percent from every worker’s paycheck. The money would go into a new state fund with a guarantee that all withheld funds plus investment gains will be available for distribution at retirement age.

This is nothing more than a thinly disguised 3% tax, as that money won’t be there when people retire. California has already proven it can’t manage pensions.

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