Four senior senators express alarm, push for 'hard' Social Security votes

[JT45242]

28. It's not hard ...get rid of the cap or make the donut plan

Here is a real simple donut plan with adjusted bend points

Pay social security percentage up to $185K (basically today's cap)
No social security up to $400K
Everything over $400K is the typical 12.4%
I could even make a good suggestion that employers should have to pay their share (6.2%) between 125 and 400K

Current bend points
90% of first $1286 AIME
32% from 1287-7749
15% above 7750

Change to
90% of first $1286 AIME
32% from 1287-7749
15% from 7750-11666 (equates to about $140K average income)
0.1% above 11667

Wham, bam, thank you ma'am. Social security is solvent. The uber rich have to pay closer to their fair share.

I would argue that stock options or other deferred pay should be considered as income for social security and treated accordingly.