Could we get a donut hole in SS?

[Capitalocracy]

Instead of eliminating the cap altogether (which is the perfect solution for any future funding problems in a perfect world where people actually do stuff that makes sense, when in reality they'll probably just raise the retirement age) wouldn't it be good to put a donut hole in Social Security so the middle class don't start paying more than they'll get out, but the reasonably wealthy would have to pay a little more, and the rich would have to contribute to the program?

And while we're talking about what would be the best policy in a fantasy world, let's talk about lowering the retirement age and tying the minimum wage to the cost of living.

[hedgehog]

1. That came up in the campaign. The proposal was to leave the cap in place

so that earnings above $120,000 but below $250,000 would not be taxed, but that there would be no cap on earnings above $250,00. The thinking was that there were people doing middle class jobs in areas with a high cost of living who depended on the extra money from the cap to get by.

[Capitalocracy]

2. I'll take it

Or even lower, like 90,000

Who proposed that in the campaign? Somehow I missed that one.

[tammywammy]

3. Obama did.n/t

[Capitalocracy]

4. Candidate Obama ftw!

President Obama... well, there are still people who think the idea that he's planning to cut SS by increasing the retirement age is a right-wing conspiracy, so let's hope they're right.