Right now Social Security tax only applies to earned income up to a wage base of $106,800. People who earn more than the base do not pay Social Security tax on income past this amount. It is unfair that wealthier Americans only pay Social Security tax on part of their income, when the majority of citizens pay the tax on all of their income. This windfall for the wealthy is especially unfair given the current proposals of raising the age for receiving Social Security, cutting back on benefits, or even privatizing the program. Before any cost-cutting measures are applied to Social Security, the wage cap on Social Security taxes should be eliminated.
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