Congress can keep Social Security solvent for years beyond 2033 by raising the maximum income subject to SS tax from the current $176,100 to $400,000 immediately.
Anyone making $1M, stopped paying into SS on or about March 1.
After reviewing all of the current options being proposed, raising the max seems like the most reasonable one! My concern was always that rich folk would simply withdraw funds later, so... we lose that way? Still slightly confused how it works. https://www.pgpf.org/article/social-security-reform-options-to-raise-revenues/
Peter Peterson..billionaire... the org. was started in 2008..former Commerce Secy. Supposedly no false information. It's just finance pros and cons. I want to know HOW raising the cap works, and can they withdraw later, causing bigger issues? 🤔
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Anyone making $1M, stopped paying into SS on or about March 1.
@warren.senate.gov @sanders.senate.gov @repjasmine.bsky.social
https://www.pgpf.org/article/social-security-reform-options-to-raise-revenues/