I've written about social security before with some of my ideas of changes to make. One thing I didn't address was the ridiculousness of having a cap on social security taxes. Here is something I just found on Yahoo!
"Workers pay into the Social Security system on earnings up to $106,800 in 2010. About 83 percent of worker earnings were subject to Social Security payroll taxes in 2008. If all earned income above $106,800 annually were subject to Social Security contributions but did not count toward benefits, Social Security's projected deficit would be completely eliminated. If the higher income counted toward Social Security benefits, about 95 percent of the shortfall would be absolved."
In other words, if we were to tax everyone fully (it's really a regressive tax as it exists now), all of the arguments about how to fund social security would disappear. The fact that this will never happen shows the power wielded in Congress by those who make the most, which includes many of those in Congress.
And as long as I'm thinking about people who are not just part of the system, but who really are the system, could we please stop saying that Rand Paul is an "outsider." He father is a congressman who has a significant national political base. He is not an outsider! He is not an insider the way the Bush's are insiders, but he's pretty close.
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