The payroll tax went from almost 10% to 12.4% between 1977 and 1990, where it has been the whole time until now (except in 2011 and 2012 under that damn fool Obama).
The full retirement age was also raised in 1983 from 65 to 67, on a schedule starting in 2000 and just concluding this year.
Time to do it again.
AI agrees that raising the full retirement age gradually from 67 to 69, also allowing about 17-years to start the process, and immediately commencing increases to the payroll tax by 2 full points from 12.4% to 14.4% will guarantee the Social Security scheme through the end of this century.
Do it now, Congress.
This is the cleanest way.
