Democratic Primaries
In reply to the discussion: Beto advocates raising retirement age and means testing for SS [View all]TexasBushwhacker
(21,126 posts)If 90% of wages are subject to SS tax, it's pretty much funded in perpetuity. The problem is that for the last 40 years, more and more wages income has gone to people making more than the SS cap, currently around $120K. When someone making $12 MILLION contributes the same as someone making $120K, that's a problem. It used to be that the number of people making those huge salaries wasn't that many and the salaries weren't super huge. Seriously, why should a CEO make 300 times what his average worker makes. I could see 10x or even 20x, but not 300x. So they need to raise the cap AND make "super salaries" subject to SS tax.
But really the bottom 80% of Americans just need a fucking raise. A BIG ONE. You can't sock money away into a 401K (which employers don't have to match) if you're struggling to pay rent.
primary today, I would vote for: Joe Biden
