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Raise the Cap on the Social Security Tax

Created by E.R. on December 19, 2012

The current cap on income subject to the 6.2 % FICA tax should be eliminated. All income from all sources should be subject to taxation. This put the Social Security system on a secure footing for at least a generation past the currently expected 2043 depletion of the trust found. However, there should be provisions to provide an offset for self employed individuals and truly small, local businesses

Economy & Jobs
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