" Make sure everyone pays Social Security Taxes on all their taxable earnings and not just limited to $110,100 of taxable earnings".
Why is this important?
There is a discrimination in how social security is taxed for the rich and average people. It should be taxed at the same rate irrespective of how much one makes.
Someone making $110K per year in taxable income pays approx $8400 in social security/disability taxes and someone making a million dollar in taxable income also pays approx. $8400 in social security taxes. This is very unfair taxation.
Not only tax payers are unfairly treated but even the social security is loosing billions of dollars in funds every year. A person making $1M/year should be paying the same percentage on all of their taxable income.
