Cynthia's Interests

The world as it unfolds - told from an African American woman's perspective...

Friday, March 11, 2005

Quote from LA times - Robert Scheer

Let me go one better to suggest the heresy of removing the cap, without increasing benefits for top earners. Make all income, even that of those making millions of dollars a year, subject to Social Security taxes, thereby bringing more money into the system.

This is a good idea. If this was implemented, it would single handedly solve the social security problem. The way social security is structured; it gives a tax benefit to the affluent. Why should there be tax benefits for the affluent as they can afford to pay the taxes anyway? America's poor and lower middle class are the ones that are footing the bill for social security since only the first $90,000 of your income is taxed by social security. The less affluent people stand to lose the most with Bush's plan and these people are the one who can't afford to lose their social security benefits in a market that is uncertain.

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