Reply #72: Fair Point [View All]

[ProfessorGAC]

It could be. The thing is they could cover those expenses by simply raising the SS cap. I make above the cap, so there is money that i don't pay SS taxes on. The impact to me and my wife would be minimal if they raised the cap to all wages, and if you make enough that the amount is large (let's say 3x the cap), then you can afford the taxes. The absolute amount is larger but the actual operational impact would be small.

Then, there'd be no attack on SS and the lower tax rate on medium and lower income wage earners would be a net positive.
GAC