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You've had periods where the Democrats control the Presidency, they control the House, and they control the Senate. If it is so easy to fix, why wasn't it fixed
by rufus_foreman 2y ago
You've had periods where the Democrats control the Presidency, they control the House, and they control the Senate. If it is so easy to fix, why wasn't it fixed?
The answer is that it is not easy to fix, fixing it involves raising taxes, and people don't like taxes.
So the can gets kicked down the road.
- jmclnx 2y agoActually, the tax limit has been risen a few times, I remember when it was ~68000 and then it ended up being ~98000 in the late 90s, maybe in the Clinton Admin. I think it is now ~163000, I can only assume that that was done by Obama. In today's environment, as you say, I doubt it will be raised until 2/3 of the Senate and the Pres wants to raise it.
- Server6 2y agoThe social security tax limit is indexed with inflation and updated annually by the IRS without an act of congress. This indexing is factored into their funding calculations.
- ungreased0675 2y agoWe’ve also had periods where Republicans controlled Congress and the Presidency, and they didn’t “destroy” Social Security like we’re told they would. It’s a difficult problem to fix, and I suspect some politicians prefer the status quo so they can use it as a wedge issue. (as you see in the comments here)