Update Social Security

Economy
1

Update Social Security

  1. Remove the earnings cap on social security FICA payments. All wages should be subject to payroll tax no matter how much you earn.
  2. Increase full retirement age. Americans are living longer and working longer. Make the earliest to collect age 65 to match with Medicare eligibility age. And phase it up from there to age 73 for max benefits. Transition full retirement age to age 70.
  3. Base benefits on highest 40 years of earnings.
  4. Update minimum benefit to 125% of poverty.
  5. Slow benefit growth for top 30% of earners.
  6. Index COLA to chained CPI and means test them.

Something has to be done today. Stop forcing Americans dependent on SSA to live in fear. Remove the fear of this program running out of money. Restore the SSA trust fund to it’s former levels. Stop the bleeding and heal this program.