Daily Letters

A selection of letters received.

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February 03, 2005

Social Security - Capped out

Dear George:

I like most of your ideas, but not raising the payroll cap on social security is one that I don't understand. My husband & I had a small bus. for 26 years. and only a few of those did we have income high enough to reach the cap for eliminating that deduction. Still I never understood why anyone making more money should be able to skirt that responsibility. That's a lot of dollars not going into the kitty when the system is being drained. We have always considered (and our accountant had)our income modest for business owners. There are a lot of "capped out" American Social Security dollars out there that need to be taxed, because the benefits are more expensive and those people especially will want the most for their money. Or maybe not. They may be protected by large firms blanket ins. coverage that they take for granted. We cannot do that. We are on our own, and both with medical conditions rendering us individually uninsurable.

Denise
Age 54
Ocala, Florida

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