Thursday, May 24, 2012
How to fix Social Security
Sen. Bernie Sanders is correct. The cap on Social Security is absurd and puts a regressive tax burden on the middle class.
Getting rid of the Social Security cap would tax everyone's income at 100 per cent. This would only effect people making more than $110,000 per year.
The Federal government would also be able to reduce the FICA payroll tax which would help working Americans and small businessmen.
Essentially, for the first time in US history, some of the tax burden for Social Security would be shifted to the most affluent Americans.
This will make people like Rush Limbaugh, Mitt Romney, the Koch Brothers and Donald Trump unhappy.
What's the problem with that?
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