We can save Social Security if the wealthy fork over their share.
Upvoters11
48 Comments
Just remove the cap. A cap on taxes makes no sense for a program that’s underfunded.
i mean, it makes total sense if the government is bought and paid for by said millionaires and billionaires...
Or allow opt out. I wish I could opt out or at least control where the funds are invested I could get likely 5x the results if I just invested into market instead.
It's not underfunded. In 2025 it was the third largest congressional budget category and recieved something like 1.3 trillion dollars of funding. This is an 8% increase from 2024. Heres the only other two "more important" things (by total funding) in the federal budget. 1. Th...
A lot of the world's problems could be solved by the wealthy not being allowed to hoard their wealth.
I'm going to pose a speculation. Sometimes I'd like to put myself in the shoes of a billionaire. I don't think people go out into the world thinking "I'm going to be EVIL". Humans justify their evil behavior as good, by twisting reality to match their world view. Here's my ar...
Dividends, interest, and capital gains aren't subject to FICA anyway, are they? Isn't that where most of the wealth is coming from? Not labor income.
You are correct. People arguing "scrap the cap" think they are sticking it to billionaires. The reality is they are sticking out to doctors, engineers, lawyers, scientists, software developers, etc. In a VHCOL area, you begin including laborers, such as longshoremen. 20% of p...
Not only should they have to pay into it, but they should also forfeit all payments and benefits from it. They got more than enough money to retire on.
Delusionally, that’s the reason some of them say they shouldn’t have to pay into it at all
We already have welfare program to facilitate transfer payments.
The cap is part of the idea that Social Security is "getting your own money back." If you remove that fig leaf, SociSec becomes "welfare for old people" and will absolutely be attacked on that basis. It doesnt prevent attacks on Social Security, but dont make it rhetorically...
Would it work out to add another bend point. Or more than one more. So people continue to get something added to their monthly payments, but even less than they get now on the highest earnings.
No, remove the fig leaf. This whole like "If we do x they'll attack it as y." despite knowing full and well that people are going to attack it anyway is part of why the Republicans are so fucking effective at neutering so many democratic/progressive proposals. And it's not e...
They want to rip it apart so finance bros have even more of your retirement money to use on gambling with extra steps.
If the money paid into SS for a 5% return, the benefits everyone would get would be double what they are now. 5% return assets are like low risk corporate loans. Hardly gambling and I’m sure most people would prefer to have double their payment at retirement.
We can and should tax rich folk more. And we can fund social security the dame way we fund wars: by spending the money into existence.
Not really, a billionaire is wealth, not income. Even if they make a billion dollar salary it's usually not taxed as income, it's stock options etc. The main point still stands for sure, but it'd take more to have them pay a fair share than removing the cap.
Just want to clarify one thing here. Being a millionaire or a billionaire is irrelevant. It's an income issue - i.e. people who make 1 MM or 1 billion a year make enough in the first x number of days to be capped out. This is an even smaller issue in terms of the number of peo...
Keep in mind, the income returned is also capped which is why there’s a cap on the tax you have to pay into SS. Not arguing for or against, just stating a fact of the program.
Scrap the cap! Billionaires are the problem, not brown people!
or, how about we do a wealth tax, every dollar over a billion, 100% tax. Every dollar over 500 million, 50% tax.... so on and so forth...
Have seen a lot of wealthy groups lobbying for reductions in property taxes under the guise that they're too high for retirees. Seems like there's a partial solution to be had here by tying the two ideas together: Give a federal tax credit for any taxes paid on property belo...
Removing the cap (without raising benefits for the top payers) would only endanger social security the next time a Republican wants something to target by making it a welfare program (instead of an insurance program). And make it yet another wealth transfer to the older gener...
This can take off with Gen Z— keep saying NO CAP
America isn't a real country
Or do it like everyone else, pay % of income tax, every month, get benefits from the government like healthcare, food for every kid in school, roads, trains, gun laws \^-\^
Fuck social security, it's a literal scam for the majority of people.
Putting more money into a broken and corrupt system will not fix the system.
The return on investment of Social Security is a government scam.
we need more laws to give billionaires more tax breaks
The social security tax you pay does not fund the program. Here is a short excerpt from FDR talking about it. MEMORANDUM ON CONFERENCE WITH FDR CONCERNING SOCIAL SECURITY TAXATION, SUMMER, 1941 FDR said, “I guess you’re right on the economics. They are politics all the way t...
We can save millions of women by prosecuting billionaires for the contents of the epstein files.
You won't. There's too many politicians that will waste the money.
Billionaires should pay the lion share
And some saying it’s underfunded, we buy our own treasury bonds with the surplus we do have, so government can write themselves a check. It’s fucking wack. Surprised they cap it honestly.
Can we go back to shiny rock currency yet?
I just had a thought: what if the Billionaires are only so on paper, and their actual wealth is all based on their privileged abilities to function in an endless loop of taking out loans on loans, and none of their actual net worth is real? Then of course they couldn't contr...
Agreed! Emperor for Life Trump needs more of your money! Stop being an evil capitalist and give it all to him!
Removing the cap would hurt people who are high w-2 earners. I know you’re probably OK with that but keep in mind these people already have to pay full tuition for their kids to go to college, pay higher health insurance premiums for company sponsored benefits, and save for re...
Ok. We change it to tax capital gains and possessions worth more than one million with an exception for one permanent residence per family. So if they want a 10 million dollar yacht they pay a 10 million dollar fee for it. So a 100 percent tax on purchase and 10 percent per...
They will down vote you even though you are right. This post is purposely misleading because social security is funded by payroll taxes. So high income earners would foot the bill more so than billionaires if the cap was removed.
Abandon social security embrace social safety net
Or keep both? Maybe phase in something similar to Australia's Super instead of social security. On the social safety net side- Housing first and universal single payor healthcare would be great starts. Give private healthcare something viable to compete against (I think too ma...
As an American, we aren’t being picky, we just want something, anything to help us retire and age in a dignified sort of way. Instead of dying as a Walmart greeter, greeting strangers as I pass away into the great unknown and possibly haunting that Walmart for eternity.