- 07 Dec 14, 17:39#429275
Why even cap the social security payroll at all? Scrap the cap! With no cap, I'm convinced SS and Disability would be secure for the longterm.
You tell them WB
Imagine if capital gains were taxed at the same rate as earned income? Or corporations actually paid taxes? Back during the FDR administration, corporate tax accounted for 36~38% of the federal budget. Today it accounts for somewhere around 15%
Then imagine if social security was paid by people earning more than $117k a year? We for some mysterious reason stop collecting social security tax after someone earns $117k. If that was extended, to say, just $250k it would immediately make social security solvent till 2045, doing absolutely nothing else.
Go figure.
Why even cap the social security payroll at all? Scrap the cap! With no cap, I'm convinced SS and Disability would be secure for the longterm.
Le coeur a ses raisons que la raison ne connaît point.