Take the Cap off Social Security Stop borrowing against SS

Economy
1

Current Cap for 2025, is $176k.
This bears a huge burden of tax for middle class, and still ignores the fact wage earners above $176k, end up receiving SS tax free wages.
Example a CEO making 500k, is only taxed on 176k at the SS rate of 6.2%. This gives the 500k salary earners, $324k, SS tax free.
Everyone should be taxed on all income, no matter their wage. This policy would fully fund the program for the future.

Additionally create a law from future administration from tapping into and or borrowing against this fund.

4 Likes
2

Common sense proposal. This should be able to garnish support from both parties?

3

Id prefer to see SS sunset personally. But didn’t know of the cap. That’s ridiculous!! All income should be taxed period. If we taxing income it needs to be done evenly across the board. Shouldn’t be a “oh well you make to much do no tax on that!”

2 Likes