“A CEO earning $20M a year pays Social Security taxes on roughly 1% of their income, while a worker earning under the cap pays SS taxes on 100% of their income.They both end up paying the same amount of money into the program. This isn’t fair.
The rise in the amount of income above the cap due to inequality has cost the Social Security Trust Fund reserve more than $1.4T since 1983.The solution is obvious: scrap the cap and make the rich pay more in SS taxes.”
https://robertreich.substack.com/p/the-real-fix-for-social-security-2ef?r=1uo829&utm_medium=ios