Reply #82: The answer is simple, REMOVE THE CAP and lower the rate... [View All]

so that only those making more than $250k see a rise in payroll taxes. Unfortunately, a Republican run House won't do this.

This solution provides a simple flat tax equation instead of it being kept as a regressive tax. The reduced tax on those making less than $250k will serve as a stimulus. And those making more than $250k being at last made to pay their fair share will ensure that both SS and Medicare are fairly paid for.

If we do increase the rates again, it should only be made when we switch Medicare to become single payer Medicare for all. That would solve a lot of problems and reduce our collective debt too, even if some of the private insurance "leech" companies that our fueling our debt may go out of business in the process.

And the argument that it really isn't a tax, but is an investment fund for a baseline "retirement" is bogus too. One third of SS payments don't go back to those who contribute to it, but to make sure that those that are disabled, have a catastrophic death of a breadwinner in the family, etc. are taken care of. To ask those making less than $106k to pick a lot huger portion of their salary to fund this than those making the money that billionaires make I would argue is unfair.