Bernie Moreno and Elizabeth Warren: Our Plan to Save Social Security

[hookaleft]

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That starts with a common-sense solution: lifting the Social Security payroll tax cap.

For 2026, the payroll tax cap, or taxable maximum, is $184,500. Workers and their employers each pay 6.2 percent on wages up to that amount (self-employed individuals pay 12.4 percent). Today, the maximum Social Security withholding for one worker is $22,878, or 12.4 percent of $184,500. Not a penny more, even if an individual’s salary far exceeds $184,500. Since the vast majority of Americans make less than that, most people are paying Social Security taxes on 100 percent of their earnings while the highest earners are paying on only part of theirs.

Why should a middle-class nurse pay a larger share of her paycheck than a wealthy corporate lawyer? This is doubly unfair in an economy in which top earners’ wages, over time, have pulled far ahead of those of the average worker.

According to one estimate, eliminating the payroll tax cap would inject around $3 trillion into the program over the next 10 years. Lifting the cap so that all income is treated the same would generate substantial revenue that would extend the solvency of Social Security for another generation.

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https://www.nytimes.com/2026/06/23/opinion/moreno-warren-social-security.html?campaign_id=9&emc=edit_nn_20260623&instance_id=177635&nl=the-morning&regi_id=313683314&segment_id=221944&user_id=809b8cf40774119da9ba8c721a509902

Sorry it is the NY Times. I don't know how to make the article free.

[Lonestarblue]

1. Their plan is simply to remove the cap.

Congress should do more by including income from dividends as well since the wealthy avoid SS taxes by living on dividends rather than salaries. Bezos takes no salary and just borrows from his companies for living expenses, thus paying no SS or Medicare taxes. Closing some loopholes could help the fund.

Some commenters on this article rejected the idea if having no cap on earnings because high earners would then get much larger SS payouts. I would favor a cap of at least $500,000 with a cap on payouts.

[Jbraybarten]

2. absolutely agree

[many a good man]

3. But they are also leaving the max payout in place

Are you unaware there is a cap on SS payable benefits?

The following examples apply if you earned the taxable maximum in each year beginning at age 22 and start receiving benefits in 2026:

If you retire at full retirement age in 2026, your benefit would be $4,152.
If you retire at age 62 in 2026, your benefit would be $2,969.
If you retire at age 70 in 2026, your benefit would be $5,181.

Social Security is both regressive and progressive at the same time. It is progressive in that lower income earners will get a little more out than they put in while higher earners will get a little less back in proportion. It is regressive in that high earners payroll tax is capped at $184K.

I think this proposal is good place to start negotiations. I anticipate it could end up reducing the withholding rate above a certain income level and raising the max payout some.

SSA link: https://www.ssa.gov/faqs/en/questions/KA-01897.html

[JCMach1]

5. Hell add it to stock sale as well

[Happy Hoosier]

6. I mean, fine... but that isn't really a good final fix.

The problem in this country is not really the petty bourgeouis. The doctor or lawyer or engineer making a few hundred K aren't what's killing the country. I mean, sure, raise the cap, that helps. I'll gladly pay more, though I do want to see an appropriate increase in benefits. There are already significant bend points in the benefits, but SS is a pension program, not welfare. For those not familiar with how SS benefits work, look it up.

What we need is way to expand the applicability of the program to those drawing their wealth from awarded assets, not wages. That;s how these mega-rich assholes avoid paying ANY taxes.

[Diamond_Dog]

4. Bernie Moreno is making sense?

Did I wake up in an alternate universe?

[Celerity]

7. Here are 2 links. The first is a cleaned up URL of your OP's link. The 2nd is a paywall free archive link..

https://www.nytimes.com/2026/06/23/opinion/moreno-warren-social-security.html

https://archive.ph/bWF0T