I believe I posted a similar thread to this one a long time ago, but I couldn't find it using the search function. So anyway, I wanted to bring up an idea I had a while back.
On one side of the Social Security debate, people want to get rid of the cap in the Social Security Wage Base, so that all income is subject to Social Security taxation. Currently, the cap is set for $102,000, so that any income beyond that is not taxed for Social Security. Proponents of ending the cap say that this will keep Social Security solvent for at least another 75 years.
For more info on how the Social Security Wage Base works, check this link: http://en.wikipedia.org/wiki/Social_Security_Wage_Base
On the other side of the debate, people say we should be able to invest SS funds into whatever stocks we choose.
I thought of an idea that combines both of these things....
If it's pretty much inevitable that America will remain the world's policeman, then wouldn't it make sense to end the cap on the Social Security Wage Base AND invest SS funds in defense/nation building stocks?
The way I see it, the military industrial complex is here to stay, and they will continue to make a lot of money off of our taxes, so why not get the money back some from their growth? If we invested SS funds in these companies, we could enter wars and actually MAKE money rather than go further into debt.
In addition to this, ending the Social Security Wage Base cap will greatly increase the amount of money invested in the first place, which will keep the program solvent in an era where our people are slowly aging out.
To me, this plan is the best of both worlds, but what do you guys think?
On one side of the Social Security debate, people want to get rid of the cap in the Social Security Wage Base, so that all income is subject to Social Security taxation. Currently, the cap is set for $102,000, so that any income beyond that is not taxed for Social Security. Proponents of ending the cap say that this will keep Social Security solvent for at least another 75 years.
For more info on how the Social Security Wage Base works, check this link: http://en.wikipedia.org/wiki/Social_Security_Wage_Base
On the other side of the debate, people say we should be able to invest SS funds into whatever stocks we choose.
I thought of an idea that combines both of these things....
If it's pretty much inevitable that America will remain the world's policeman, then wouldn't it make sense to end the cap on the Social Security Wage Base AND invest SS funds in defense/nation building stocks?
The way I see it, the military industrial complex is here to stay, and they will continue to make a lot of money off of our taxes, so why not get the money back some from their growth? If we invested SS funds in these companies, we could enter wars and actually MAKE money rather than go further into debt.
In addition to this, ending the Social Security Wage Base cap will greatly increase the amount of money invested in the first place, which will keep the program solvent in an era where our people are slowly aging out.
To me, this plan is the best of both worlds, but what do you guys think?