Yes! Eliminate the ceiling on FICA taxes. And apply FICA taxes to all income, not just wage income. It is unfair for poor and middle-class wage earners to pay over 14% of their compensation (including the employer contribution to their FICA taxes), while people with annual incomes in the millions pay close to 0% in FICA taxes. Scrap the cap to put Social Security on a sound basis and to make it closer to fair. Not fair, mind you. That would require progressive FICA taxes, but let’s just start with flat FICA taxes. What we have now is regressive FICA taxation.
Aug 14, 2024
at
3:12 AM
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