The "Easy" Social Security Fix, Ctd
Yglesias says this chart is reason to lift the Social Security cap:
The quantity of a given person’s income that’s subject to Social Security taxes is “capped.” What’s less well understood is the fact highlighted by this chart from John Irons’ recent testimony (PDF), namely that trends in the US income distribution have meant that a higher and higher share of national income is escaping the Social Security system.
Andrew Biggs counters. I'm not wedded to this. What the Dish is wedded to are realistic and credible proposals to tackle the long-term debt. The crisis is too great to keep anything off the table.