Showing posts with label Expand Social Security Act. Show all posts
Showing posts with label Expand Social Security Act. Show all posts

Tuesday, February 19, 2019

Social Security Lets the Wealthy Slide on Their Income Contributions While Working Class Pays

Article Title: Here’s How Much America’s Rising Income Inequality Is Costing Social Security
Snippet of Article: "...ironically, it’s America’s highest earners—those who can most readily afford to contribute—whom policymakers have chosen to give a break. In 2019, every dollar they earn above the payroll tax cap of $132,900 will escape Social Security payroll taxes entirely. As a result, while roughly 94 percent of workers contributed the full 12.4 percent of their annual earnings toward Social Security taxes..."


Source: www.americanprogress.org

[tag] Federal Employee News, Federal Civil Service, [/tag]