It's some version of "rich people don't need any more Social Security." Social Security is an insurance benefit and once your wage is high enough, the risk of economic insecurity in old age--the risk that Social Security insures--gets low. It's why the cap is there in the first place.
I guess. Still, it doesn’t sit right with me. Appears this country has no stomach at all for taxing the uber-rich. I do appreciate the way you broke down the program and its evolution. I’ve benefited twice in my life, first as the child of a father killed in war and now as a retiree. I want it to be there for my children and grandchildren. As the Soup Nazi might have said, “No pensions for you!”
It's coming. It is by far the most popular policy related to Social Security and it has been for decades. The program needs money and the typical American thinks its deeply unfair that the rich pay in a lower share to a program that we all benefit from, even them.
You are my hero!
Wow, thank you!
Thank you! Could you summarize the arguments against raising the contribution ceiling?
It's some version of "rich people don't need any more Social Security." Social Security is an insurance benefit and once your wage is high enough, the risk of economic insecurity in old age--the risk that Social Security insures--gets low. It's why the cap is there in the first place.
I guess. Still, it doesn’t sit right with me. Appears this country has no stomach at all for taxing the uber-rich. I do appreciate the way you broke down the program and its evolution. I’ve benefited twice in my life, first as the child of a father killed in war and now as a retiree. I want it to be there for my children and grandchildren. As the Soup Nazi might have said, “No pensions for you!”
It's coming. It is by far the most popular policy related to Social Security and it has been for decades. The program needs money and the typical American thinks its deeply unfair that the rich pay in a lower share to a program that we all benefit from, even them.