Wrong. Not everybody who pays in collects - millions of people die before they ever draw a check after paying in their entire working life.BDKJMU wrote: ↑Fri Jan 27, 2023 7:33 pmWrong. What you are paid out is based on what you pay in. So removing the cap would do nothing for insolvency.
And if the law was rewritten so the FICA tax cap was removed, but benefits were still capped, then that would make it nothing more than a socialist redistribution of wealth, in addition to the Ponzi scheme that it is.
And lets not forget Congress using SS as their piggybank - payback the IOUs and were in good shape