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Politics : Formerly About Advanced Micro Devices
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To: Mongo2116 who wrote (857215)5/15/2015 12:51:45 PM
From: TimF  Read Replies (1) of 1576879
 
"Getting rid of the cap" would be a massive tax increase to the point where it would push many higher pay workers past the inflection point on the Laffer curve. And if that's all you do it would add to later social security spending since the higher paid workers would now be entitled to higher payments when they retire. So no even with faulty static analysis that assumes you can tax everyone to 100 percent with no negative impact on how much they produce, removing the cap still wouldn't fix social security for the long run.
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