Bernie is exactly right. Simply raising the cap on payroll taxes would solve any problems the Social Security system has. Personally, I would abolish the cap. Why shouldn't the rich pay the same percentage as minimum wage workers pay? How can our government possibly justify a minimum wage worker paying a much larger percentage of his/her income than a millionaire or billionaire has to pay?The only reason that politicians are even discussing cutting Social Security benefits or raising the retirement age is because most of them are millionaires themselves -- and they would rather hurt the people who must depend on Social Security than pay the same percentage in payroll taxes as a low-wage worker. And currently not a single member of Congress, not even the few who have to live on their congressional salary, pays as high a percentage in payroll taxes as the lowest wage workers in America (because their congressional pay is well above the cap of $110,000).
Let your congress men and women know that you aren't going to stand for cuts to Social Security benefits or a raising of the retirement age. Let them know they should be paying their fair share of payroll taxes. Demand that the cap on the salary subject to payroll taxes be raised significantly. And make sure they know you are no longer going to listen to their lies about Social Security being in trouble (or going bankrupt).
