From time to time this board has interesting discussion on how to address social security.
Maybe I’ve missed it but we never talk about income discrepancy. We do talk about raising the retirement age or raising the cap.
But what if for the 70MM US workers working for wages that barely get them by companies actually take care of them? We’ve seen an explosion in wage and wealth discrepancy. I’ve seen statistics that say CEO income has gone up over 1000% since around 1980 while average worker pay has gone up like 25% when you look at time adjusted dollars.
If you simply increased that 70MM employee pay by $10,000 per yr, you put 42 billion annually into Social Security.
Don’t want to raise the cap on high income to where they pay the same tax rate, then let’s solve more problems by increasing worker pay.