A small tax increase would make the essential national retirement program secure for decades, our columnist says, but lawmakers would have to take action.
This is a very uninformed comment, but isn’t the social security tax essentially capped at earnings of 100k? Like if I make 200k a year I pay in the same as someone making 100k?
This is a very uninformed comment, but isn’t the social security tax essentially capped at earnings of 100k? Like if I make 200k a year I pay in the same as someone making 100k?
Yeah, though the cap is inflation-indexed, and currently at $168,600
The article talks about eliminating the cap as part of dealing with the actuarial deficit.