[Stu from NYC]

Originally Posted by OrangeBlossomBaby

No that would be $100 MORE per month than they're already paying. Not $100/month total. That's why I said $100 more. More = in addition to. It sounds like you're really working hard to cherry-pick and eliminate details like - interest accrual, the fact that the current generation pays for the generation following it and is paid by the previous generation - that's how the system is set up to work, intentionally. And let's not forget that some people die before they can get back what they put in. And let's also not forget all those immigrants who are here legally on work visas - who pay into Social Security and are not ALLOWED to take any of it out.

My suggestion was to increase the cap - which is only $160,200. That means - if your paychecks came to $160,201, you pay $0 on that last dollar. If your paychecks came to $1,160,201, then you pay $0 in social security taxes on the million, you ONLY pay it on the $160,200. My suggestion was to increase that cap to $250,000.

Once upon a time there was a relationship between what people put in and what they could eventually take out. What you are suggesting is a tax on people making over $ 160,000. That was not the purpose of SS.