Reply #16: As an actuary - I posted the real results in the post on this thread a bit [View All]

[papau]

earlier.

You are correct that a no wage base would meam million dollar monthly checks 25 years from now as the higher wages phased in to the benedit calculation.

But the tax increase is day one, larger payouts are 25 years later

and those larger payouts use the 15% factor for the extra wages included in the benefit calculation - meaning the progressive nature of Soc Security overcharges the rich a little bit -

Indeed as those million dollar benefit checks go out the door, the rest of us will be paying a lower payroll tax than we would have had the wage cap remained.

SO RAISE THE WAGE CAP! :thumbsup:

:toast:

:-)