Part 8/10:
- Invest in IRS Funding: Increased IRS resources could ensure compliance from high-income earners, capturing billions in unpaid taxes often owed by the wealthy.
The Future of Social Security
Another area at risk due to inequality is Social Security, which is projected to face funding shortfalls as more income escapes tax liabilities. Eliminating the income cap on Social Security contributions for high earners could vastly improve the program’s sustainability, ensuring that extensive benefits remain available for future retirees.