Social Security Reform
Currently, the Social Security sets a maximum wage contribution, meaning any income over the maximum wage is not taxed for the purpose of funding the Social Security system. This limits the Social Security funding available and acts as a tax incentive for the rich. Therefore, we need to eliminate the maximum wage contribution limit on Social Security. Currently, many people receiving benefits do not need them! Limiting people who collect Social Security to those making less than a set income level from other sources will allow Social Security funds to be distributed based on true need. Retirees that have their own large separate pension funds would be eliminated from receiving Social Security Benefits. Maintaining a standard by which individuals can draw benefits, we would pay for those people that are truly impoverished in their old age. Limiting payments to wealthy retirees allows this system to be used for the purpose it was intended- to care for the elderly who can not afford to care for themselves.