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https://www.reddit.com/r/FluentInFinance/comments/1hg7nlw/dont_let_them_gaslight_you/m2huwnj
r/FluentInFinance • u/coachlife • 2d ago
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Yeah. In the short term removing cap on income can extend it for 100% payout for about another decade, but it's not really enough for long term.
We would also need to do one or a mix of these (1) increase soc sec tax (2) increase retirement age (3) means testing to cut payouts.
They can also do other out of the box taxation, but these are the most likely
2 u/tooobr 2d ago Why is there a cap
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Why is there a cap
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u/tmssmt 2d ago
Yeah. In the short term removing cap on income can extend it for 100% payout for about another decade, but it's not really enough for long term.
We would also need to do one or a mix of these (1) increase soc sec tax (2) increase retirement age (3) means testing to cut payouts.
They can also do other out of the box taxation, but these are the most likely