Journal of Humanities & Social Sciences(JHSS)
ISSN: 2690-0688 | DOI: 10.33140/JHSS
Impact Factor: 1.1
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A Simple and Fairer System to Fund Social Security
Abstract
Jabari Zakiya
FICA withholding from wages is currently used to fund Social Security. It uses a Cap with no Floor system, which subjects the first dollar of wage earners salaries to FICA, up to a wage cap, after which FICA is no longer applied. What is shown here, is that a Floor with no Cap system is better, for the myriad of reasons provided herein, and should be adopted by Congress to replace the current system.