- United States
- S.D.
- Letter
As you get closer to discussions on how to shore up Social Security for future generations, I'd like you to consider the following. Here are a few ways to shore up Social Security for the future:
1. **Raise the Payroll Tax Cap:** Increase or eliminate the cap on income subject to Social Security taxes, so higher earners contribute more.
2. **Increase Payroll Tax Rates:** Gradually raise the payroll tax rate for both employers and employees.
3. **Means-Test Benefits:** Reduce benefits for higher-income retirees to focus resources on those most in need. 4. **Raise the Minimum Wage:** Raising the minimum wage would automatically bring in more money through through increased payroll tax deductions. Thanks for considering my ideas as you head toward pertinent legislation. Social Security is essential to the "health and well being" of our great nation.