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More on the “Scrap the Cap” Argument - 247wallst.com; AMAC
As most readers are keenly aware, the dialog on how to fix Social Security’s looming financial catastrophe most often turns to elimination–or at least adjusting–the payroll taxable maximum. The basic argument goes like this: someone earning a million dollars in wages should pay the same dollar amount of payroll tax as someone earning, say, $100,000. Simple, right? Well, it’s really not that simple, as columnist Maurie Backman observes in a recent post on 247wallst.com. Click here to read her post, and then click here to read an in-depth article posted several weeks ago in AMAC Foundation media.
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