An alternate vision for Social Security reform
An alternative vision: So here’s the approach we need. We know that House Republicans won’t agree to elminating the payroll tax cap, so there is no danger that proposing it as a reform will be met with any real negotiation on the issue. But we can slam the conservatives for supporting such a regressive policy.
And since progressives don’t believe there is a crisis, we don’t think there needs to be any new revenue raised TODAY, so any rise in revenue from eliminating the payroll tax cap should be matched with an overall cut in payroll tax rates paid by average workers– probably equivalent to saving them 2-3% of their income.