PBS asks: Lift the payroll cap on Social Security?

May 23, 2013 | Alex Stone

This PBS NewsHour video from 2005 feels a bit dated, but the points are still largely true. The payroll tax cap is now $113,700, and just 84% of wages are subject to Social Security taxes. Social Security taxes are still not paid on capital gains or investment income, and the vast majority of income gains in the past decade have gone directly to the top 1%.

So, what do you think about raising the Social Security income cap (AKA scrapping the cap)?

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Posted in Retirement Security, Social Security

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