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Showing Original Post only (View all)A Simple Solution to Permanent Social Security Solvency [View all]
The cap is currently at $110,00. That means that once somebody reaches that level of income, they stop making contributions to the system.
Raise the cap to whatever it will take to make Social Security's projected solvency guaranteed for 25 years into the future. Have automatic increases in the cap any time the projection goes below 25 years.
This would always guarantee the Social Security system will be solvent from generation to generation.
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I've Posted This Thread Each Time A Discussion Comes Up Here On DU About "Raising The Cap"....
global1
Jan 2013
#2
Eliminate the cap all together, and make capital gains pay SS too. Tax all income as regular $
Vincardog
Jan 2013
#7
Hate to break it to you but higher earners (those between about $55K-$110K ) already
exboyfil
Jan 2013
#28
Ok as long as the benefit is the same for everyone. Same $ amount for every recipient
Vincardog
Jan 2013
#33
Because FDR didn't want SS cutting $10,000 checks every month to millionaires in retirement.
Selatius
Jan 2013
#23
The program payouts are progressively tiered, you only get 10% back above a certain point.
Sirveri
Jan 2013
#37
the benefit is the same for everyone. Same $ amount for every recipient. The rich don't need
Vincardog
Jan 2013
#34