09-03-2023, 01:44 PM
(09-03-2023, 12:29 PM)NATI BENGALS Wrote: Why would we eliminate the benefit cap? Are you worried about how big Elon musk or Jeff bezos social security check would be? They are not the ones who need help.
They make and have all the money. That means they need to pay more.
Because that's how it works. Eliminating the income cap w/o the eliminating the benefit cap changes the very structure of the program. Also, businesses would be on the hook too. They pay another 6.2% into SS. That's a pretty hefty increase they'd have to bear, which would ultimately get pushed on to the consumer.
Musk and Bezos have wealth. Im not sure about their income, but my guess is that it's not as high as many think. Although, Musk did just sell a shit ton of Tesla stocks in 2021 and incur $11B in income taxes.
But yes, I am worried about how big their checks would be, and it's why Im not in favor of eliminating the income cap.
