Social Security Plan Combines Privatization, Income Cap Raise A proposal that offers a long-term fix for Social Security involves reducing the annual cost-of-living adjustments that compensate retirees for inflation. The plan raises the cap on income subject to Social Security payroll taxes, and adds private accounts as ways to fill the funding gaps in the Social Security program.
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Social Security Plan Combines Privatization, Income Cap Raise

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Social Security Plan Combines Privatization, Income Cap Raise

Social Security Plan Combines Privatization, Income Cap Raise

Social Security Plan Combines Privatization, Income Cap Raise

  • Download
  • <iframe src="https://www.npr.org/player/embed/4511421/4511422" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

A proposal that offers a long-term fix for Social Security involves reducing the annual cost-of-living adjustments that compensate retirees for inflation. The plan raises the cap on income subject to Social Security payroll taxes, and adds private accounts as ways to fill the funding gaps in the Social Security program.