Reply to Harris tax plan - raising taxes on high earners

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Make all earned income subject to the social security tax and not just the first $168,600. That would fix a lot. [/quote]

The reason you cannot do that is then their benefits would soar too. And if you object to THAT you just completely changed SS into a pure welfare program and any semblance of bipartisan support for it (which is already tenuous) disappears. [/quote]

There is already a cap on the max you can receive in SS benefits no matter how much you pay in. They should just keep that limit and increase the wage cap, which is far too low anyway. It should be more like $200 or $250K, or not have a wage cap at all.[/quote]

You do that and you completely change the social contract on SS and doom it to the dustbin of history. Of all the things, this is hands down the worst idea of them all if you are interested in preserving the program. [/quote]

This is really a subject for a different thread, but SS has structural problems so any fix will change that contract. Dooming it — if you mean it will disappear — is the worst possible change, so that won’t happen. But some change will. Raising the wage cap or removing it altogether are far more palatable than cutting benefits to everyone. [/quote]

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