Tuesday, February 08, 2005

Social Security

Check out this new CNN/McPaper/Gallup poll that shows that over 2/3 of adults think the wealthy should pay more to protect social security. Hello!!! It's absurd that payroll taxes for social security are capped at $90,000. Why shouldn't Bill Gates and Paul Allen pay 1000 times what I do for social security. If you took the cap off of payroll taxes, or even if you capped it at say $500,000, what would the numbers look like for how long social security will remain solvent?

If there is a problem with social security, which there's not, this is the obvious solution.

If the Bush administration is composed of smart politicans as opposed to the ideologues that I think they are, they will drop the social security right now. Just let it die. I don't think they will though since they are driven by the desire to peel American history back to 1890.