Just Scrap the Cap on Social Security

October 19, 2011 | Alex Stone

Don’t think Social Security cuts affect you? Think again. Because if Social Security is cut, your parents might be movin’ in.

Here’s the deal: right now, everyone pays Social Security taxes on the first $106,800 they earn, which means most people pay Social Security taxes on their whole paycheck. But since $106,800 is the cap (unless Congress acts to change it), a whole lot of wealthy people don’t pay a dime in Social Security taxes on most of what they make… Learn more »

Tell Congress: Don’t cut Social Security – Just Scrap the Cap »

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Posted in Retirement Security, Social Security

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