Instead of reducing social security benefits by changing the cost of living adjustment, remove the cap on income subject to the social security tax.
Why is this important?
The President and Congress are considering changing the cost of living adjustment (COLA) used to determine benefits. The change will gradually reduce the benefit a little bit each year. For myself the effect will be small, but for my children and grandchildren, it will not. I've read that the system would remain solvent for another 75 years if the cap on income subject to the tax, now at $100,100, were to be removed. The media don't mention this, so the COLA reduction is the only game in town. Here is a good alternative.
