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eridani

(51,907 posts)
5. Good article from the Federal Way Mirror
Sat Apr 14, 2012, 12:07 AM
Apr 2012
http://www.federalwaymirror.com/news/147341085.html

Social Security Works Washington, a new statewide coalition of labor and retiree groups, is hammering home the idea of "scrapping the cap."

That cap is the Social Security collection limit on incomes above $106,800 per year (that number becomes $110,100 in 2012). All citizens earning incomes at that level and below are taxed 6.2 percent.

An April 12 forum at Highline Community College promoted the lifting or outright removal of this cap. Doing so, proponents say, will increase benefits and strengthen Social Security by trillions of dollars.

Ohio Congressman Dennis Kucinich delivered a fiery pitch for Social Security reform at Thursday's forum.

Kucinich, a Democrat, opposes the privatization Social Security. He also opposes a later retirement age or any cuts to benefits. He says lifting the cap is a simple solution that will make Social Security solvent.

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