Reply to Harris tax plan - raising taxes on high earners

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[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]

That's not true under current law.  If SS runs a surplus it must be invested in US Treasuries.  And that isn't included in the calculation of US national debt and the deficit.  And that's how Clinton was able to bring down the deficit.  Social security surpluses were invested in US Treasuries.[/quote]

This has nothing to do with surpluses.

Social security taxes are linked to benefits. There is a max tax and also a max benefit. If you lift the cap on the tax but leave the benefit capped, you have fundamentally changed the nature of the program and gutted the bipartisan support for it. [/quote]

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