02-09-2018, 02:47 PM
(02-09-2018, 02:28 PM)michaelsean Wrote: Doesn't congress pay it back with interest?
It's fine to lift the wage cap, but then you have to pay them more so I don't know how much of a gain that will be.
Congress is supposed to, but keep in mind this is just robbing Peter to pay Peter. I know I said Peter twice, and it's because where is that money and interest coming from? It's taken out of the general budget as a mandatory expenditure and takes away from other budget items and/or we incur further debt from it.
As far as raising/lifting the wage cap, not necessarily. Many people that go beyond that cap will see little to no benefit from SS, and some may even be ineligible or taxed to an extent where all of it goes back to the government. The accounting for SS is crazy.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
