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Remove the Social Security cap on taxable wages and leave the benefit cap. Wages over $113,700 are not taxed. Equality.

Created by J.K. on January 22, 2013

Since the creation of the Social Security system, a cap has been in place on taxable wages. Every year the level of the cap is raised with 2013 at $113,700.00. Any worker making below this amount must pay this tax. Once a worker passes the cap he is exempt of additional Social Security tax. Since benefit are based on the contribution, benefits should be capped. End the inequality of 95% of Americans pay Social Security tax their entire working life, but let the other 5% and million dollar bonuses free of tax.

Economy & Jobs
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