The cap on social security’s taxability raises on the average of every few years. Now, some individuals are advocating removing the cap entirely and asks why there is a cap to begin with….
Well, a couple of facts here.
First of all, the top 10% of wage earners in the United States are already responsible for 70% of what is collected and retained by the Treasury.
Second, this is absolutely preposterous — tax hard-workers so that nobody else has to work. There is no way in Hell that these top-wage earners would recover a fraction of that when it’s time for them to retire.
The more obvious question should be, who invented Social Security? Who said it was the job of taxpayers to put into a fund to make sure everyone else was taken care of? Particularly with people like myself who is expecting NOTHING to be there when I turn 62.
How about we abolish social security altogether and have Americans become responsible for using their 7.65% withheld to invest in their own avenues?
How about we all just take care of ourselves and stop asking hard-workers to take care of everyone else. They are not required.
steveflesher
Philip
Mel Maguire
Mark Ciavola
