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Las Vegas Review-Journal
Las Vegas Review-Journal
US · 35 mins ago
LETTER: The easy Social Security fix
It’s a shame that we are “supposedly” the richest country on Earth, yet we cannot provide healthcare for our citizens, upgrade our infrastructure and make Social Security viable. The solution for the latter is to remove the cap on wages taxed for Social Security. Medicare is already taxed on all earned income at 2.9 percent which is split between employer and employee. Social Security is taxed for gross wages up to $184,500 at a rate of 6.2 percent for employee and is then matched by the employer for a total of 12.4 percent. Once the cap is removed, Social Security would be flush with money, because the employer would also be matching the additional 6.2 percent. With salaries in the millions for sports figures, CEOs, tech moguls etc., 12.4 percent taxed upon millions will be the solution t
Las Vegas Review-Journal
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