Social Security taxes is 6.2% of your salary, unless you make over a certain amount of money. For individuals earning more than $113,700 in 2013, they are only taxed on the first $113,700. Any earnings over that are not taxed for social security. The wage cap changes every year. The wage cap needs to be eliminated so that Social Security can be here for future generations to come. Why are these people not taxed on their entire earnings like most middle class wage earners?
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