the Chairman's solution to this is tax the wealthy.
This would literally turn at least a good chunk of Social Security into more of a general welfare program.
anybody who has just hit like $100,000, I mean the maximum. What is the maximum amount of earnings right now subject to the tax?
the maximum amount of earnings right now subject to the tax? $168,800, I do believe.
You are going to pay in. We are going to save this money for you, and then you are going to pay it out in retirement.
Back then it is kind of hard to get the exact number of workers versus beneficiaries.
We have got to solve a problem. The trouble is there is no Reagans or Tip O'Neills in Washington right now.
I think you are not going to get even close to the revenue you think you are going to get, because you are going to create a huge disincenti...
the solution here is to really kind of break with the original concept of this being a you pay into the system and you get what you pull out...