A radical new idea for ensuring the Social Security Trust fund d doesn't run dry:

[hedgehog]

Many have suggested that Social Security would be fiscally sound if we removed the limit on contributions. (This year, only the first $110,100 are taxed).

But what if we raised wages at the bottom, thereby increasing contributions across the board? If people earn more, they'll end up contributing more!

[NYC_SKP]

1. Yes, we should do that. More disposable income, stronger economy.

We'll have to squeeze it out of the over-earning/under-taxed 1%, though.

[Turbineguy]

2. And if they wanted to take another step

they could do means testing.

[HiPointDem]

7. just kill ss & put in a retirement welfare program, then. don't call a welfare program social

security.

oh, & fund it out of income taxes, not payroll taxes, as welfare programs should be.

[Turbineguy]

9. I wasn't thinking about it that way

I merely thought if I am more fortunate than some, I don't need it. Maybe I'm looking at it the wrong way.

[HiPointDem]

11. you always have the option of refusing it or donating it to charity if you feel you don't need it.

If you want a welfare retirement program, tax through the income tax and hit capital. they have the money.

don't ask labor to accept a flat tax and then submit to 'means testing' of the benefits -- which gives control to future governments to 'means test' away benefits at their discretion.

[Turbineguy]

12. Thanks!

You're correct.

[Wounded Bear]

3. Actually, I've thought that before, too....

Raise the minimum wage 10% and 5% of that (give or take) goes straight into the SS fund.

But we still need to raise the limit, if not eliminate it completely.

[Romulox]

4. The level of inequality is what is really cancerous to our society.

Unless taxes become progressive in this country, the rich will always accumulate enough to buy off the system. Regardless of the absolute poverty level.

[HiPointDem]

5. +1

[NNN0LHI]

6. You will not find a lot of support for that here

I completely support the idea.

Problem is most of the people who would directly benefit from doing that are long gone from here. They lost their Internet, homes, etc. a long time ago and are not posting any more.

Don

[thelordofhell]

8. But then some more people will go over the cap wouldn't they?

[Cleita]

10. Actually, you have an excellent point.

Also, passing the jobs bill Obama is begging to have passed would create more jobs to deduct FICA from. However, our filibustering Republican Congressmen wouldn't have any scare issues to beat their drums about. I think I would rather they taxed the rich by raising the limit just because they are being such assholes about the whole thing. Also, how about a donut hole. Tax up to $110,100 and then have a donut hole up to one million. After that tax everything over that million. That way you catch the wealthiest in their own talking points and give a little break to the moderately wealthy.