Our national debt is increasing, our tax base is eroding, and even Social Security is not exempt from the whims of the wealthiest and most entitled among us. Meanwhile, wealth inequality is the only thing rising.
Have a nice day, and good luck retiring if you're under about 50.
The Motley Fool: Rising Income Inequality Could Deplete Social Security's Cash Sooner Than Expected.
https://www.fool.com/retirement/2019/02/21/rising-income-inequality-could-deplete-social-secu.aspxI don't know what kind of cred the Motley Fool gets around here (or anywhere else), and I don't care. The fact that we only pay SS tax on the first $123,000 cannot be justified in legitimate fiscal terms, and it says a heck of a lot about who benefits from tax breaks of all shapes and sizes.
I disagree with the Dems going after a 70% tax on the rich. The reality is that all these failing safety net programs are no longer solvent because the richest, oldest Americans have constantly found new ways to legally evade paying their fair share of taxes. I guess what I'm suggesting is that if the rich got treated the same as everyone else (and were just made to pay the tax they owe by right like the rest of us), we wouldn't have solvency issues in every one of these critical programs, and we wouldn't have to seek to steal our money back from them with something as ridiculous as a 70% tax rate. The 20% they DON'T pay now is what's missing from the coffers. It's there for the taking. Just close the loopholes. Never gonna happen, I know....