Fixing Social Security means raising taxes — and not just on the superrich

Oct. 13, 2024 - Vox.com

Social Security is a pay-as-you go system, so taxes collected from today’s workers are spent on current beneficiaries. He proposed reducing spending on Social Security in each of his annual budgets while in office.

And despite his promises, he has suggested that he’s open to Social Security cuts this time. That means that higher earners pay a smaller share of their income toward funding Social Security than lower- and middle-income earners.

But if Democrats are serious about raising revenue for Social Security, they should start considering raising taxes on everybody...