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It's rigged (thelemmy.club)
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[-] osanna@lemmy.vg 19 points 1 month ago* (last edited 1 month ago)

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.

[-] turdburglar@piefed.social 9 points 1 month ago

i mean social security is taxes tho

[-] osanna@lemmy.vg 3 points 1 month ago

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

[-] Mycatiskai@lemmy.ca 7 points 1 month 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.

this post was submitted on 14 Jul 2026
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