"A substantial majority of Americans support requiring higher-income earners to contribute more to Social Security to address the program's upcoming funding shortfall.
Public Support and Context
66% support: Polling highlights strong public backing for making the wealthy pay more into the system.
Insolvency timeline: The Social Security trust fund faces depletion projected around the early 2030s.
Current cap: In 2026, the maximum earnings subject to the 6.2% payroll tax is $184,500.
' Proposed Solutions
Lifting the cap: Lawmakers propose raising or eliminating the wage tax cap so high earners pay on income above $184,500.
Solvency boost: Proponents argue this revenue change extends the program's solvency for decades.
Benefit protection: Advocates favor tax adjustments over across-the-board benefit cuts for average retirees."
"It's only 6% of us that experience any benefit from the cap and an even smaller percentage " three or four " who benefit from scrapping the cap on income above $250,000," O'Malley reportedly told host Blake Burman.
"Most Americans, Blake, think it is unfair that wealthy people don't pay the same tax rate as a custodian in a school or a teacher."
www.usatoday.com
ONEIRONAUT, where'd you go?
Questions are still on the table. See #43