Sanders, Reid, DeFazio Introduce Legislation to Strengthen Social Security

[ProSense]

38. Really?

"And that's just the first problem with this goofy 'solution'. "

Do you still agree with this statement: "raising the cap to its original/traditional 90% is fine by me."
http://www.democraticunderground.com/?com=view_post&forum=1002&pid=1839646

There is no reason that some people should have their entire income taxed and others do not.

Raising Social Security taxes on both employers and workers from 6.2 percent to around 7.6 percent would close the projected shortfall.1 But there are better ways to raise the necessary revenue. The fairest and simplest is eliminating the cap on taxable earnings, which is currently set at $110,100. Though people pay income and Medicare taxes on all earned income (and will soon pay Medicare tax on unearned income as well), earnings above $110,100 aren’t subject to Social Security tax. Scrapping the cap would close 71-87 percent of the shortfall, depending on whether or not you increase benefits for high earners to reflect their higher contributions. Other no-brainers include covering newly-hired public-sector workers who currently aren’t in Social Security (closing 6 percent of the shortfall) and subjecting Flexible Spending Accounts and other salary-reduction plans to Social Security taxes (closing 9 percent).

http://www.epi.org/blog/social-security-trustees-report/