No. of Recommendations: 5
"Seventy-two percent of those in the poll said they would support Congress instituting a 1% tax on income above $184,500 to bolster funding for Social Security. The law currently requires people to pay a 6.2% tax up to that annual income level but no Social Security taxes after. "
I could never understand why Medicare taxes were not wage-capped, once someone made a reasonable salary, the balance (up to infinity) was not taxed in the same way as Medicare. Those who made the most might need SS less than those in the lower tranches, but had the means to bolster the system. It seems Congresspeople were less interested in preserving SSD than sticking fingers in the eyes of those donating to their PAC's.
Jeff
