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View Diary: Data Grab? Experian now controls web access to Social Security Admin (322 comments)

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  •  From several things I've read, at worst Social (3+ / 0-)

    Security will be able to pay out 75% of benefits during the time when there are too many enrollees and not enough income. Then over a number of years, it gets better. And this is if nothing is done to improve the situation, e.g., getting rid of the cap on earnings subject to the payroll tax -- you know, the cap that means that someone with an income of $1,000,000 year pays the exact same amount (amount, not percentage) in payroll taxes as someone earning $116,000 per year.
    http://www.cbpp.org/...

    We're not perfect, but they're nuts! -- Barney Frank

    by Tamar on Wed Jan 23, 2013 at 09:17:02 AM PST

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    •  Even just raising minimum wage substantially (7+ / 0-)

      makes Social Security far more sound.

      When a whole generation gets stuck with McJobs, we have a duty to make sure McJobs pay a living wage anyway- but that surge of cash into paychecks that 100% subject to FICA will also shore up the program.

      "I have often seen people uncivil by too much civility, and tiresome in their courtesy." Michel de Montaigne

      by JesseCW on Wed Jan 23, 2013 at 11:22:40 AM PST

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      •  excellent point! one of those win-win ideas. (0+ / 0-)

        But it's still pathetic that people with high incomes get off with paying a far lower percentage toward Social Security than people with lower incomes. (our family benefits a little from the cap but I don't think it's right. We, others like us, and others with lots more than us should pay more).

        We're not perfect, but they're nuts! -- Barney Frank

        by Tamar on Wed Jan 23, 2013 at 11:39:23 AM PST

        [ Parent ]

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