Murray: Is it true that people making under $184,000 pay a 12.4% Social Security tax rate?
Dahl: Yes
Murray: And the rate for someone making $1,000,000?
Dahl: 2.2%
Murray: So, a 12.4% tax for people making less than $184,000, but 2.2% for a millionaire or .0002% for billionaires.
Raise the cap Rand
### Key Impacts of Raising or Eliminating the Cap
Analyses from sources like the Social Security Trustees Report, Committee for a Responsible Federal Budget (CRFB), Peter G. Peterson Foundation (PGPF), and Center on Budget and Policy Priorities (CBPP) show that this reform alone cannot fully restore 75-year solvency due to the program's growing deficit from demographics (e.g., aging population) and wage inequality. But it could close a substantial portionโup to 73% of the gapโand extend trust fund solvency for decades. Here's a breakdown:
| Proposal | Description | Solvency Impact | Additional Notes |
|----------|-------------|-----------------|------------------|
| Restore 90% Coverage | Adjust cap annually to tax 90% of all earnings (currently ~83%; would require cap ~$250,000 initially). | Closes ~30% of 75-year gap; extends solvency ~10-15 years (to ~2045). | Addresses wage inequality; minimal benefit increase for low/middle earners. |
| Eliminate Cap Entirely | Remove cap, taxing all earnings at 12.4%. | Closes 57-73% of 75-year gap; extends solvency 20-30+ years (to 2055+). | Generates ~$1-2 trillion over 10 years; offsets 70% of long-term shortfall but not all. |
| Raise Cap to $250,000 + Include Investment Income (e.g., Social Security Expansion Act) | Tax wages up to $250,000 and add capital gains/interest (like Medicare). | Closes 70-100%+ of gap; could fully fund benefits for 35+ years. | Progressive; eliminates poverty-level benefits for recipients; proposed by Sens. Sanders/Warren. |
| Partial Increase (e.g., to 95% coverage) | Gradual rise to cover 95% of earnings ($400,000 cap). | Closes 40-50% of gap; delays depletion by 10-20 years. | Balances revenue gains with modest benefit hikes for high earners. |
- Revenue Boost: Eliminating the cap alone would add hundreds of billions annually by taxing the ~6% of workers earning over the cap (who hold ~17% of total earnings). For context, in 2025, a worker earning $176,100 pays ~$10,918 in Social Security taxes; one earning $1 million pays the same, but elimination would add ~$51,000 more from that individual.
- Why Not Full Solvency Alone?: Per the 2025 Trustees Report, the deficit has grown (from 3.50% to 3.82% of payroll since 2024), making single reforms insufficient. Full solvency requires a ~29% payroll tax hike (3.65 points) or 22% benefit cut if acting nowโdelaying to 2034 worsens it by 15%. Combining cap elimination with options like raising the tax rate by 1-2 points or tweaking benefits (e.g., progressive price indexing) could achieve full solvency.
Just assaulted by Boston Police at Men's Rally Against Women's Rights at The Planned Parenthood! I was the Planned Parenthood Pony! ๐๐
Please RT so Elon has to pay me TWITTER AD revenue money to troll forced birthers!
Another angle of the ICE Agents arresting me for singing in Portland Oregon!
๐ฅ By Alex Gonzo
RT so Elon has to pay me TWITTER AD revenue money for Lawyers ๐๐
Let's all take a moment to remember when Thug Donald Trump emerged from his bunker where he was hiding and had tear gas fired at peaceful protestors in Lafayette Park so he could walk across the street and fondle a Bible upside down for a photo op.
๐จNEW: The Trump Administration released Rep. Mikie Sherrill's full military files to her GOP opponent in this year's New Jersey Governor's race, potentially violating federal privacy laws.
RETWEET if you stand with @MikieSherrill against this attack by Trump and the GOP!