this post was submitted on 14 Jul 2026
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Work Reform

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[–] osanna@lemmy.vg 19 points 5 days ago* (last edited 5 days ago) (2 children)

You can thank reagan for that. Before him, the megawealthy were taxed a LOT (i don't have exact figures, but it was something like 60%). Then reagan came in with his bullshit "trickle down economy" and that was that.

edit: just saw this is about social security funds, not taxes.

[–] Mycatiskai@lemmy.ca 6 points 5 days ago

There is a cap on social security tax so after you earn past the cap you don't pay anything extra.

Elon Musk pays the same amount as a person who makes 190k a year.

Take away the cap and social security would be funded forever and a day.

I learned a lot about this by watching Sam Seder talk about SS. It is one of his hot topics.

[–] turdburglar@piefed.social 9 points 5 days ago (1 children)

i mean social security is taxes tho

[–] osanna@lemmy.vg 3 points 5 days ago

oh, I'm not american and not entirely sure. Thanks for the correction.