A small tax increase would make the essential national retirement program secure for decades, our columnist says, but lawmakers would have to take action.
Wouldn’t removing the cap just delay the issue? You get more out of SS the more you put in. The cap exists because there is a maximum amount you can get out of SS. If they remove the input cap, then that implies they’d remove the output cap too. In which case, the immediate result is a lot more money flowing into SS, but over time, a whole lot more money will start flowing out, too.
Wouldn’t removing the cap just delay the issue? You get more out of SS the more you put in. The cap exists because there is a maximum amount you can get out of SS. If they remove the input cap, then that implies they’d remove the output cap too. In which case, the immediate result is a lot more money flowing into SS, but over time, a whole lot more money will start flowing out, too.