Reduce the taxation percentage and extend the currently regressive FICA Social Security tax to include all wage levels.

The current Social Security portion of the FICA tax is 6.2 percent and terminates at a wage level of $113,700 in 2013. This is a regressive and unfair taxation structure. Taxpayers above the cutoff level escape this tax altogether and yet are paid out a significantly heftier Social Security insurance benefit at retirement. Reducing the tax by up to 1 full percentage point and extending the tax for all levels of wage compensation with no loopholes would solve the funding problems and arguments indefinately as well as introduce fairness to the program.