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WASHINGTON — Social Security faces a $5.3 trillion shortfall over the next 75 years, but a congressional report says the massive gap could be erased with only modest changes to payroll taxes and benefits.
Some of the options are politically dangerous, such as increasing payroll taxes or reducing annual cost-of-living increases for Social Security recipients. Others, such as gradually raising the age when retirees qualify for full benefits, wouldn't be felt for years but would affect millions.
I think they should remove the cap as well. That would leave those making under the cap alone with no change. Those over the cap can probably absorb the hit.
Removing the cap should be the first option on the table..not taking out more from those already taxed.
I agree with removing the cap on wages and applying it to all income from all sources. I also believe that there should be an upper limit on incomes that may receive benefits. I suggest some thing like 5 times the median wage.
I agree with removing the cap on wages and applying it to all income from all sources. I also believe that there should be an upper limit on incomes that may receive benefits. I suggest some thing like 5 times the median wage.
As Maxwell Smart would say"the old Robin Hood trick" you know rob from the rich and give to the poor.How do you justify that it is right to take money from people then when they qualify to giving them nothing?You really do not believe in equality do you?
It would also disappear if Congress started taxing all wages, not just those below $106,800,
That also happens to be the most popular option. The only question is can Democrats win over GOP filibustering in favor of their rich masters.
why would the democrats even think about this...since it would be paying the rich people even more
the SS cap is two sided,,,it is not only the intake cap (first 102k, a person makes)....but is also the PAYOUT cap....ie the more you pay in the more you get later
removing the cap would mean that when Bill Gates retires,,,ss will PAY HIM 10's of thousands a month......funny that liberals never look to the long term,, only short term
wch - read my post. I suggested a CAP on payments that excludes the folks over the 95th percentile of incomes. Social Security is an income maintainence insurance system. I see no need to pay people that do not need the assistance.
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