[ClaireSolt]

Isn't progressive indexing much better for high income earners than raising the cap and increasing their taxes?

[Myrddin]

Isn't progressive indexing much better for high income earners than raising the cap and increasing their taxes?

It's a ponzi scheme. Expenditures exceed collections in 2017. Taking the cap off moves the pivot point to 2024. The ratio of contributors to receivers is 3.3 to 1 today. That's obviously an average. Not all parties contribute equally. Losing a high earner hurts a lot more than losing a minimum wage earner. A revolt among high earners in the form of early retirement will blow a big hole in the projected numbers.

As a party who has paid max social security every year for the last 10 years, there is a strong disincentive for me to keep working at this level. Why put in 60 to 70 hours per week so the government can steal most of it?

[TheForceOfOne]

It is better and would be more widely excepted among those with higher incomes. I am curious as to what Rush will say about this today on his program.

Still, I am hesitant about forcing the rich to pay an unfair burden of the taxes, or penalize people for doing well in a capitalist society.

I do know that the S.S. plan is antiquated and must be reformed and to this point you have Republicans offering ideas to fix it and Democrats saying no even before they hear the idea.

I have a 401K and it is a good, I am 100% vested (Employer matches dollar for dollar what I put in) and S.S. would be far better off in this format.

Our S.S. contributions go to current retired citizens and the money left over goes into who knows what pork programs. Knowing I actually have a retirement fund is better than a promise in a pyramid scheme reaching its end where the first ones in have already collected and we will be left holding the empty bag of promises.