tax ceiling on SS around $89,000.00

[Postman]

Why does a millionaire pay the exact same social security tax as someone who makes $89,000.00 per year?

How is that fair?

Are there any Democrats pushing to change this?...I know, they have about as much chance of success as a snowball in hell but did any Dems propose changing this back during the Clinton Presidency or before the Republican Congress took over in 1994?

[Hotler]

1. Greed effects even the Democrats.

Why would the Dems on the hill want to change the rule. Most politicians go to Washington to get rich. Not to help the people. $89,000 cap on SS is just another entitlement program to subsidize the rich. :)

[secedeeconomically]

2. good point

[napi21]

3. The escuse that's always used is that each contributor will not be

required to contribute more money than they could ever hope to get back out of it.

Just a rough guess here, but if you made the cap $100,000, at 6.2%, you pay $6200. per year into SS. If you worked 40 years you would have paid in $248,000. If you retired at age 68 and lived 12 years, using what I will receive when I retire in 6 years (1,100/mo) you would only receive back $132,000.

The SS program was supposed to be self supporting and not require the Gov't to contribute, nor were the contributors to have to pay more for others just because they made more $$ in their life.

I don't agree with this privitization idea at all. I think if they really want to go with investing the funds, first the gov't should pay back all they already borrowed from the SS fund, and then invest it on a contuing basis as a lump fund, NEVER TO BE BORROWED FROM AGAIN! I do believe it would be more profitable that way than just in treasury bills, but the gov't would then take the risk of any losses and not the individual.

[sendero]

4. Very simple..

.... SS benefits rise with salary, but only to a point. A millionaire is not going to get any more SS than a middle class person.