General Discussion

Lonestarblue

(13,589 posts)

20. The cap should definitely be raised, but we also need changes in our tax laws.

Reply to Yo_Mama_Been_Loggin (Original post)

Wed Jun 10, 2026, 04:50 PM

Yesterday

The wealthy have armies if accountants and many loopholes given by Republicans to help them avoid taxes. As just one example, billionaire Bezos does not take a salary, and thus he does not pay income taxes, SS taxes, or Medicare taxes. He borrows from his company to pay living expenses. How many other multimillionaires and billionaires do the same?

In addition, only income is subject to the SS and Medicare taxes. Many of the wealthy live on dividends that are also not subject to payroll taxes. We could improve the fairness of our tax code by simplifying it and taxing more sources of income.

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Highlight:

Social Security benefits could soon be cut by 22% [View all] Yo_Mama_Been_Loggin Yesterday OP

It's as if nobody saw this coming.... CoopersDad Yesterday #1

The "third rail"..... SergeStorms Yesterday #28

It will NOT be "insolvent". It will have a shortfall. And THAT.... CousinIT Yesterday #2

The shortfall could be avoided if we just got rid of the damn cap!!! SunSeeker Yesterday #22

That would be forcing the wealthier to pay their fair share.... CousinIT 12 hrs ago #42

It will be insolvent. Igel Yesterday #33

There's a simple fix for this. Increase the top dollar amount of a person's income that is SS taxable to 500K. patphil Yesterday #3

Why raise it to that level and not just remove it entirely? EdmondDantes_ Yesterday #15

There should be no cap at all. Why do billionaires need the tax break? SunSeeker Yesterday #24

Raise the salary cap! SocialDemocrat61 Yesterday #4

They've been gaslighting us for years leftstreet Yesterday #5

Pitchforks and torches maxsolomon Yesterday #6

This should be an issue this year. gulliver Yesterday #7

Last time Mike Johnson uttered "SS cuts" he backed right off because it is the third rail. pat_k Yesterday #18

Raise the Cap! La Coliniere Yesterday #8

Right wingnuts obstruct because they want to scream "unsustainable" & "replace with private investment" pat_k Yesterday #17

Yep. Every Dem. Every comment. Jbraybarten Yesterday #35

Easier to just kick the can down the road. MichMan Yesterday #36

But of course, we have trillions for an unnecessary war. bif Yesterday #9

And an army of thugs and private concentration camps. pat_k Yesterday #16

Kick BlueWaveNeverEnd Yesterday #10

The solution is to cut Republicans from our government by 100% LymphocyteLover Yesterday #11

The shortfall stems from Republican obstruction to increasing cap. pat_k Yesterday #12

Just raise the FICA taxes by 1% and increase the FICA tax cap by 10%. Jacson6 Yesterday #13

Should become a major campaign issue for the Democrats. Sogo Yesterday #14

Time, actually past time, to blast your representatives Old Crank Yesterday #19

The cap should definitely be raised, but we also need changes in our tax laws. Lonestarblue Yesterday #20

This is one of many problems we face in the coming years. However, this has to be one of easiest to fix -- just raise Fil1957 Yesterday #21

Sounds like Al Gore was onto something there fujiyamasan Yesterday #23

I'm old enough to remember Republicans making fun of Gore City Lights Yesterday #25

As a SS recipient I hate this...as a Democratic voter I say let's make this a mid-term issue! pecosbob Yesterday #26

The majority of Trump supporters I personally Sector 001 Yesterday #27

Vote to lower taxes so we won't need to lower SS. Believe! Festivito Yesterday #29

changing times tmars505 Yesterday #30

I live on SS retirement and if this happens I may be living in my car...damn... wcmagumba Yesterday #31

It was too hard to try and make it on SS alone so I'm working part time Kaleva Yesterday #38

Social Security Fairness Act signed in Jan 2025 didn't help either MichMan Yesterday #32

Demographics helps. Igel Yesterday #34

Raise the Cap! yellow dahlia Yesterday #37

Will deal with it when it happens orangecrush Yesterday #39

Raise the cap and then also the rate on the wealthiest JCMach1 Yesterday #40

Simple: SCRAP THE CAP. Captain Zero Yesterday #41

Kick dalton99a 12 hrs ago #43

Vote ONLY for Democrats! MineralMan 11 hrs ago #44