> Fixing Social Security for the future.Previous | First | 1 | Last | Next
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Diarrhetrius BrownFixing Social Security for the future.
I am totally against removing the cap because it fuqs over millionaires and billionaires by making them pay more taxes than someone working hard for $12 and hour.
Removing the Social Security tax cap means subjecting all earned income to the 6.2% payroll tax. Currently, there is a maximum taxable earnings limit set at $184,500. Scrapping this limit directly impacts about 6% of workers who earn more than this threshold.
Solvency Impact: Eliminating the tax cap without increasing future benefits would cover approximately 73% of Social Security's long-term funding shortfall, significantly delaying the program's projected trust fund depletion date.
Wouldn't totally fix the problem but it would help.
But I am totally against fuqing billionaires and millionaires.
Another thing we could do is eliminate all social security except for the illegal immigrants who desperately need it.
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SockpuppetRe: Fixing Social Security for the future.
Wut??
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SamplesBoiRe: Fixing Social Security for the future.
He's lost his shyt.
One thing to keep in mind is that most millionaires and all billionaires don't have that level in taxable income, which is all that would be taxed if the cap is raised. No serious proposals have been made to put this tax on capital gains or "wealth". Social security taxes don't even apply to gambling winnings.
I'm pretty conservative, but applying social security taxes to all income is one of the most reasonable proposals so far to improve social security solvency.
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