Although I have always admired Altman's deep understanding and advocacy of Social Security, this article only confirms what progressives have known for many years...business owners and the elite play by their own rules when it comes to taxes including FICA.
Unlike employees, even small business owners have choices in how they characterize income that will be subject to FICA. Most weigh in favor of non-FICA categories in characterizing their income.
High income business owners and the 1% at best pay Social Security contributions on only the first $100K or so of annual income. Some CEOs keep their salary below $100K and characterize millions of dollars each year in non-FICA income categories. Three guesses as to which POTUS candidate has ever mentioned getting private money out of politics ?
The biggest travesties to Social Security and Medicare funding were not corporations and individuals gaming the system, but 1) 1986 tax "reform", and 2) Obama's 2011-2012 payroll tax "holiday", both subjecting Social Security and Medicare to more gaming and undermining that we continue to witness.
After its 1985 formation the Democratic Leadership Council"s first major achievement was what Democrats continue to brag was "bipartisan 1986 tax reform", the most regressive tax reform in history that gave corporations and the 1% more loopholes, including reduced FICA contributions, while increasing taxes on most of the 99%.
For decades right wingers wrongfully accused Social Security of spending tax money the US can't afford, when in reality the Social Security trust fund paid benefits. When Obama suspended payroll FICA contributions with his 2011-2012 "payroll tax holiday" the lost funding was taken from the general fund, giving right wingers more leverage to make future cuts in Social Security.
Trump and his ilk spend boatloads of money each year on "campaign contributions" to assure that they pay as little as possible in taxes, including FICA while most of the 99% pay as much as they can squeeze out of us. Trump and millions of other 1%ers are the symptoms of the real problem which is allowing ANY private money in politics.