Very easy and very fair way to fix social security - just apply a flat payroll tax [View All]

Currently the payroll tax is 15% - that works out to 7.5% for the employer and 7.5% for the employee - for everyone making up to 108,000 per year.

If you make 216,000 per year, you only pay 7.5% payroll tax - that works out to 3.75% for the employer and 3.75% for the employee.

And if you make 432,000 per year, you only pay 3.75% total payroll tax - 1.875 % for the employer and 1.875% for the employee.

You can see how it gets worse and worse the higher a person's income, the lower their tax rate.

And if you have income that is not a paycheck, like interest income or dividends, you pay 0% payroll tax!

Why not just a flat rate for all incomes of all kinds?

Or better yet, why not

15% flat tax for people making 108,000
7.5% for people making 54,000
3.75% for people making 27,0000
1.875% for people making 13,500
and anyone making less than that is exempt.

If this simple, fair plan was implemented, there would be plenty of money in social security for decades if not centuries.