Social security cap

One of the many ways to shore up the social security fund is to remove the income cap. Right now people pay 6.4% of their income into social security up to $117,000 of income. If social security tax was collected on all income this would bring in about 100 billion dollars per year. While this would be collected from the 1% it would not affect the super- rich or top one tenth of one-percent who are often referred to as the billionaires. These people get their income not from wages but from capital gains and social security is not taxed on capital gains. Once again this tax would be fall hardest on those who earn between $500,000 and one million per year and these are the job creators. If you want to have the billionaires pay into this fund the law must be changed to collect social security tax on capital gains. Recall that capital gains are monies earned from investments as opposed to wages.