Quote:
Originally Posted by MTK
The retirement age is already gradually increasing for benefits. The easy solution to me is to drastically raise the cap or eliminate it. Right now the maximum earnings subject to Social Security payroll tax is only $132,900. If we want to get serious about expanding and strengthening Social Security I'm down with Bernie's ideas. |
I would agree with raising the cap. When the cap was set it was done in a time when $100K was a real high salary.
The age of eligibility and the cap both need to get with the times. We live longer now, and $250K is the new $100K. Put both in line relative to when the plan was instituted and then you've got something. It's a mathematically objective notion too.