I don't believe raising the wage base is a fair or effective option.
A much greater burden would be placed on the middle class - not the wealthy. And just how many politicians would publicly support a Middle Class Tax Increase?
Furthermore, I agree with Mr. Beard - if you raise the wage base, you must raise the benefit to maintain equity.
However, would this accomplish much? It appears to me this adjustment would do little to address our demographic dilemma.
More money would be allocated to the mythic Social Security Trust Fund over the next decade or two, but greater benefits would need to be paid when the boomers retire. Assuming these additional funds are not to be invested in real securities, wouldn't increasing the wage base simply increase our nation's unfunded liabilities?
