>>>>I proposed raising the cap in concert with changing to a 17% flat tax and eliminating the current huge cost of complying and enforcing the present complex tax code. Doing so should result in lower taxes for all and, at least partially, offsetting the increase in "contributions".
And what do we cut from the budget to get this 17% rate? It would take a 23% flat rate to bring in the same revenues. And those whose marginal rate went from 15% to 23% (an increase of over 50%) would not see this as 'lower taxes'. And the workers, who get hit with the FICA tax, would have to 'pick up' the revenue lost from capital gains, dividends and interest which are exempt under this flat tax.
Tax simplification and a flat tax rate are not the same thing, although the 'flat tax' proponents try mightly to convince you that they are.
