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H the K[_2_]

wrote:
On Mon, 17 Aug 2009 17:52:22 -0400, H the K
wrote:

According to my SS statement my employer and I paid a tad over $12,000
each between 1966 and 1996. (~$24,000 total).
SS was a bit over $100,000 total.
I suppose I could put the yearly totals in a spreadsheet and see what
a reasonable rate of return would produce but I don't really care that
much.
The SS should be the same for anyone who paid the max over that period
so it is probably something that has already been done.
If you live very long SS and Medicare are great deals, that is why
they are going broke. The plan was based on a life expectancy of about
66-67 for 90% of the people eligible.

Uncap SS taxes and the problem goes away.

That adds a 14% tax increase to everyone making more than $100,000 a
year. Try to get that through congress when added to the medical care
tax increase and whatever is necessary to get a grip on this deficit.

I haven't messed with the math, but I wouldn't increase the employer
"co-pay" and I would slap the additional tax on those over the $250,000
mark.