Students get aid from tax

NIU students should support efforts to tax their paychecks for social security.

Student organizations on local, state and national levels were warned last week that students’ school-related earnings are possible targets in Congress’ attempt to cut the national deficit. Presently, those earnings are not taxed. If approved, the tax will take 6 percent of each student’s school paycheck—or $6 for every $100 earned.

Students shouldn’t gripe about the tax because it will help everyone in the long run. The two greatest benefits include payments into the social security fund and dollars going to shrink the mushrooming national debt.

Right now, social security deposits are used on the revenue side of the equation when figuring the national debt. Although some question this practice, no one can question the pressing need to reduce the deficit.

And, contrary to some student leaders’ opinions, the social security system is in trouble. One only needs to look at the statistics. As Americans live longer and the baby-boomers get up in age, the fund will feel the drain.

But just as important, it is everyone’s duty to take care of others. Students expect to have the fund when we retire, so it is only right students pay now.

To help ensure a share is waiting for students and their families when the golden years fast approach, it’s better to spend a couple of dollars on the tax now. If not, everyone will pay for it—and more—in the end.