At the present time, only the first 110,000 dollars of a worker's income is Social Security taxable. All of a worker's income is Medicare taxable and does not include a cap on wages. All of a worker's income should also be Social Security taxable and not have a cap. Maybe then the Social Secuirty program could become solvent again.
Why is this important?
As it now stands, only the first 110,000 of a worker's wages are Social Secuirty taxable. All of a worker's are Medicare taxable. So if someone makes 110,000 maximum in a year, all of those wages are Social Secuirty taxable. But - if someone else makes 500,000 in a year, only 110,000 of those wages are Social Security taxable. Why? Makes no sense. If all wages were Social Security taxable and the government kept their hands off this money and used it for Social Security only, I believe the Social Security program would be solvent.
