above $165k either. SS is already progressive, but there’s at least some level of correlation between what you pay in and what you earn as a benefit. This just turns social security into retirement welfare. Yuck.

And I say this as someone who no longer pays into social security.

And one final point, I was going to say “fuck it, let’s just turn SS into a retirement welfare program”, I wouldn’t raise the cap like that. You think a family of 4 or 5 living in DC or NYC or SFO making $250k needs another ~$10k in taxes right now. Instead, I’d keep the cap where it is, and then have it kick back in from $500k and up. Or $1m and up. I don’t like that either, but at least you’re not hitting upper middle class families (in high cost of living places) with a big tax increase.