Eliminate the cap
There is a very simple solution to the financial crisis facing the Social Security system, yet we rarely ever hear it mentioned. Why is that? According to the nonpartisan Congressional Budget Office, all we need to do is to eliminate the cap on earned income that’s subject to the payroll taxes that fund Social Security. Currently, the cap is set at $113,700.
Eliminate the cap for heaven’s sake. Instead everybody’s proposing cutting old folks’ benefits. What’s wrong with us?
Ben Davis, Cary