Remove Social Security cap on the wealthy wage earners

OlympiaJanuary 19, 2014 

Social Security currently has a cap on the wages that pay this tax. Wages over the Social Security Wage Base (SSWB) of $117,000 do not get calculated into the SSN taxes paid by those wealthier employees. This cap should be removed on employee wages, but retained for employers.

In other words, school districts, states, cities, and other employers should not be required to contribute still more in matching funds, especially when those funds would need to come from taxpayer pockets.

This does not mean the wealthy need to receive proportionately much more in their Social Security benefits. They are statistically more likely to live longer, and will probably collect more money during their lifetimes.

Not only would this help fund Social Security for the future, but this will also alleviate some of the gap between rich and poor. The school superintendents, state judges and the city managers can pay SSN on all of their salaries and help provide the benefits needed by the cafeteria and maintenance workers.

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