Pro: Tax Burden Would Be More Evenly Distributed
It would be beneficial for everyone to pay the same percentage of their earned income towards Social Security, but that is proving to become more and more of an issue. As the gap between low income and high income households stretches, the tax burden for the former group becomes increasingly obvious. Evenly distributing this tax burden would only serve to help the program in the long run.
Currently, the tax cap simply ensures that there is a difference between these percentages. Without it we can also expect financial stress to be taken off the shoulders of those individuals who are already suffering from various monetary problems.
