FIXING SOCIAL SECURITY IS NOT THAT HARD, HERE’S HOW (opens in new tab)

Here are the results of an exercise to make Social Security last at least 75 more years. I used the Committee for a Responsible Federal Budget (CRFB) estimator. ✔️Increase the payroll tax rate by 2% shared by employers (1% each) or raise the 2% only on employers ✔️Eliminate the taxable wage cap, and also accrue additional benefits based on those taxed earnings using a 15% accrual rate. The same percentage as the lowest accrual or “bend point” uses now. ✔️ Apply SS taxes to the pre-tax health ...