Social Security/Basic Income

A proposal to double Social Security payments was presented by Steven Hill in 2012. It would raise $650 billion per year, by lifting the ceiling on Social Security payments ($377 billion), ending the deduction for business pension expenses ($126 billion), eliminating the home mortgage deduction ($100 billion), and closing tax deductions for the rich ($50 billion). If the mortgage deduction is retained, and we don't add the $50 billion which will be covered in other tax reform, we would have $500 billion of the $650 billion, and the extra taxes would cover the rest.