Social Security is commonly mentioned in political debates with one side fighting to save it while the other side wishes to emliminate it. There is a way to end this debate and save Social Security. For 2012, the maximum taxable earnings amount for Social Security (OASDI) taxes is $110,100. Meaning those who earn more that $110,100 do not pay the tax on earnings above that amount. BUT if that amount were to be lifted it would in turn fund Social Security at least for the next 70-years. This action would not hurt the poor or middle class. It would not raise the retirment age or deminish benefits to our seniors. It would only add taxes to earnings above the current cap of $110,100.
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