I floated this balloon back in February. At the time, it was one of those rare cases in which I found myself in potential agreement with Bush:"Raising the cap on social security deductions is something I think I support because it is one way to close the potential future Social Security funding gap without raising the rate for upper-middle, middle, and lower-middle taxpayers:http://www.msnbc.msn.com/id/6979993/ I also floated a couple of studies on some other occasion inidcating that raising the cap to about $150,000 or thereabouts would be an appropriate number....
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