Should Social Security raise the SS taxes and Medicare taxes with living increases or every few years?

[mcalano77]

I think that the government should raise social security taxes and medicare taxes to help keep the disabled and elderly properly taken care of. They only get 15% currently which is quite sad because it isn't much. Then they should make a law where the country can't barrow the money from funding for them programs.

[v b]

They *have* been raising the taxes. While the percentage hasn't been going up, the amount of income subject to fica has.

If you think 15% isn't enough, you are nuts. 15% is terribly high. It's the number one tax paid by many people.

[Byrne H]

That's what they've been doing, for a very long time. However, the cost of paying for the promises made by Medicare and Social Security are much, much higher than the taxes they can collect at current rates. We're going to see lower benefits, higher taxes, or both.

[Max Hoopla]

Social Security and Medicare taxes do go up every year following the general increases in wages and with the ever increasing maximum subject to tax. They have not gone up to keep in line with the increase in life expectancy.

Social Security funds are invested in US Government bonds that pay market interest. The government can't just take money from Social Security to use for other programs.