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not increase the Social Security retirement age and ensure solvency by applying the SS tax to all wages over $106,800.

Created by B.M. on December 11, 2012

The Social Security tax has an maximum earned income cap on which the tax may be imposed. No Social Security tax is paid on income over $106,800. This means that higher income earners actually pay a lower effective tax rate for Social Security. Removing that cap would help ensure solvency of the system and eliminate the need to raise the retirement age.

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