It's commonly known there is a cap on earnings for paying in on Social Security. If you're wealthy and making $118,500 per year or more, you don't get taxed on the rest of that income.
Basically, if you're already wealthy, you get one more break from the rest of us stooges. Thanks, Congress!
As if that's not bad enough---and it is---it's clear, too, that, given that the wealthy also famously and statistically live longer than the rest of us poor schlubs, they get more benefits from the system.
So they live longer, already, what with the cushy lives and security and great food and second (or third or fourth homes), etc. So since they do, they reap more benefits from the system. It makes sense. They live longer so THEY GET MORE MONEY FROM THE SYSTEM.
Sweet deal, huh? They're already wealthy and they soak more from the rest of us. And being rich, I'd nearly bet most of them are "small government" Republicans and Right Wingers and Libertarians, to boot.
It's sick. It's just one more way "Them that has, gets", as the Andrews Sisters used to sing.
The great thing is that there is an obvious and simple solution.
News flash: How about we lift that cap on what they pay in?
This way, they can still contribute to the system---the system they usually take more advantage of since they live longer. Meantime, THEY DO WITHOUT NOTHING. They pay in a bit more, up front. Is that asking so much? It seems clear the answer is no. They pay in on the incomes over $118,500 and they get back, later in life, thus saving Social Security for all of us.
It helps all of us, it actually strengthens the middle and lower classes, thus strengthening the economy. All that's true as if doing the right thing, as a rather human, even "Christian" nation isn't enough and doesn't have it make all the more sense. It's good for the people, yes, but good to great for the nation and even, hell, good for creating demand for products, for all the Capitalists out there.
It makes so much sense. It makes too much sense.
Probably why the Republicans in Congress will never go for it.