The Social Security tax is 6.2%, but the maximum amount taxable on earned income is $113,700.00 This is called "The CAP". So if someone makes $300,00.00 or $10 million and more, they did not pay more than $7049.40 IN Social Security taxes. The tax stops entirely at $113,700.00. Social Security needs to collect more from the wealthy to make the program enduring fair and better.
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