Stay Informed: The 'You Earned It, You Keep It Act'- Social Security Tax Proposal

[@lakeville1853]

Thank you Patrick and team

[@montega.]

How are higher income earners "paying more for the deficit" ? Isn't it just that those in the upper classes would now become subject to the 6.2% tax on their income in the same way those who make less than them already are?

[@ryan9343]

You could better explain… the SSN income tax cap at $32k hasn’t changed since like 1982, never adjusted for inflation. Average home price then was $75, and family income at $32k. The SSN income tax cap I think is $165k a year, above that amount isn’t taxed, and that hasn’t changed. Rather than shifting both goal posts, they propose eliminating both. Dumb it down… a family with 2 nurses for parents, $200k a year joint, can expect to pay the government an additional $3200 in taxes approximately. Horrible bill.

[@ElderLawCare]

I hear you. Thanks for the Feedback!