General Discussion

AZJonnie

(3,312 posts)

1. IIRC from what I've read, that cannot effectively be done

Wed Jul 9, 2025, 09:20 PM

Jul 2025

Well, it can be raised, but then the payouts must be raised commensurately, so raising the cap doesn't improve solvency. I believe this rule dates back to the act's passage like 90+ years ago (under Roosevelt). Or I could be entirely wrong and/or misinterpreted what I read. But I'm pretty sure it cannot legally be gotten rid of entirely. Certainly not right now, at the behest of Democrats, for obvious reasons. Pretty sure it would take at least 60 Dem senators to pull it off if it were possible at all, and a very different SCOTUS makeup as well

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oswaldactedalone

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Oh for Gods sake, just remove the freaking cap !!!! [View all] 4bonhoffer Jul 2025 OP

IIRC from what I've read, that cannot effectively be done AZJonnie Jul 2025 #1

The payouts don't have to be increased. Ms. Toad Jul 2025 #7

Exactly. Moreover, Congress can cap payouts. TomSlick Jul 2025 #9

Agreed. Ms. Toad Jul 2025 #11

I appreciated your detail. You are correct that many people don't know. TomSlick Jul 2025 #12

Thanks, you're always a fount of info Ms Toad AZJonnie Jul 2025 #16

Correct SickOfTheOnePct Jul 2025 #14

In the spirit of TomSlick above, KISS Dave says Jul 2025 #15

What super power does Kaine have to get a bill like that spooky3 Jul 2025 #2

Zero chance. If we can collect another 12.4% tax on everyone over cap, it's needed for healthcare, climate, education, Silent Type Jul 2025 #3

Oh, that cap! Retrograde Jul 2025 #4

GMTA! 3catwoman3 Jul 2025 #5

If only. Though you know, I can't exactly see this happening under fucking fascism. Karasu Jul 2025 #6

Also, have 5% of unearned income over, say $500,000 taxed to add to the fund. 3Hotdogs Jul 2025 #8

DUers have been saying raise the cap for the entire 22 years I've been on DU IronLionZion Jul 2025 #10

Roosevelt or FDR Democrats supported SocialDemocrat61 Jul 2025 #13