Fixing Social Security

Fixing Social Security Credit: Illustration by William L. Brown

To those suggesting eliminating the payroll deduction cap on Social Security taxes ["Fix Social Security," Letters, Nov. 16], I ask, if I will be paying Social Security taxes on all of my income above $110,000, shouldn't I then be eligible for higher payments when I retire and not be subjected to the current maximum? After all, I want my fair share also.

Currently there is a maximum benefit, and a person who earns the maximum amount subject to Social Security tax each year (about $110,000) will receive the same maximum benefit as someone who makes $250,000.

If the person making $250,000, in fairness, received a benefit based on that income, we would then be paying out larger benefits.

Linda Michell, West Babylon
 

I appreciated your good suggestions for securing Social Security for future generations ["Balancing Act: Securing Social Security," Editorial, Nov. 15]. I agree that means testing should not be used to deprive wealthy`retirees of benefits after they spent years contributing to the system.

However, what about means testing for noncontributing spouses of wealthy retirees? When Social Security was established, non-working spouses were included to ensure that dependent spouses (primarily women) would have a source of income if something happened to their spouse.

Times have changed, and we can no longer afford to hand out retirement benefits to all non-working spouses, male or female. I think this is the perfect situation for a means test. If family income is above a certain point, the non-working spouse gets no benefits.

I believe billions of dollars could be saved, without taking benefits away from those who have earned them, and those non-workers who need them.

Daryl Glockner, Mineola

Editor's note: The writer is a lawyer.

Poll: Hochul leading Republican rivals ... Long Ireland brewery to close ... Visiting Christmasland in Deer Park Credit: Newsday

Accused cop killer in court ... Teacher's alleged victims to testify ... Popular brewery to close ... Visiting Christmasland in Deer Park

SUBSCRIBE

Unlimited Digital AccessOnly 25¢for 6 months

ACT NOWSALE ENDS SOON | CANCEL ANYTIME