Reply #23: For what it is worth

[nancyharris]

The reason FICA is not attached to wages over $80,000 is because benefits are capped for those earning over $80,000. A person earning 10 million a year receives no more Social Security benefits upon retirement than someone earning $80,000 a year.

Now someone earning 10 million a year surely does not need the help of Social Security upon retirement but it is hard to find any politician, either Democratic or Republican, that is in favor of “means testing” Social Security.