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Scrapping the Social Security payroll tax cap
Late month, Sen. Jeff Merkley (D-Ore.) announced plans to introduce a bill to increase the annual cost-of-living adjustments for Social Security. He proposed to pay for it by raising the Social Security payroll tax rate of the wealthiest Americans – those who make more than $250,000 per year – closer to the rate already paid by middle and working class American workers. Read more…
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