Quote:
Originally Posted by OrangeBlossomBaby
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.
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just eliminate the cap. . .
The more you make, the less one will miss the small percentage . and the biggest contributors will be highly paid athletes and large corporate sr management.
They all can afford it and a fixed percentage for everyone equally is fairer as everyone pays their share.