Social Security is fully solvent until 2037 and is not in crisis. But one way to make sure there are no cutbacks in benefit cuts after that is to lift the payroll tax cap so wealthy Americans contribute more into the system.
A new survey from the National Academy of Social Insurance finds that most Americans want to do just that. When survey respondents were asked how they felt about the statement “It is critical to preserve Social Security even if it means increasing Social
Security taxes paid by wealthy Americans,” 87 percent of them agreed, with 62 percent of them strongly agreeing.
It’s worth noting that this number includes even 71 percent of self-identified Republicans (and 86 percent of self-identified independents).