> Starting with the accounting, Social Security is a program we have decided to fund from dedicated taxes, primarily the 6.2 percent tax employers and employees pay on the first $160,200 of income. (Part of the program’s problem is that the share of wage income going over the cap, and avoiding taxation, rose from 10.0 percent in 1982 to almost 20 percent today. This is because of the huge upward redistribution of wage income over the last forty years.)...
#SocialSecuritySystem #SocialSecurityPaymentCap
https://cepr.net/publications/the-social-security-scare-story-industry/
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