A group of Republican senators are working on a plan to slash Social Security benefits by potentially raising the retirement age to 70 — which would essentially force millions of workers to work even longer than into typical retirement age.
Perhaps the most salient point illustrating Republicans’ and conservatives’ disinterest in “saving” Social Security, however, is the fact that the other solution to Social Security solvency — increasing the amount of money going in to the program, rather than decreasing the amount going out — seems to be off the table for much of the party.
Currently, income over about $160,000 a year isn’t subject to the Social Security tax. This means that those with an income of $1 million a year stop paying into the program by the end of February — the day of this story’s publication — unlike the vast majority of Americans, who pay into the program with every paycheck all year.We’re proud to publish real news 365 days of the year, completely free of charge to our readers.
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