Impact of Possible Changes to Social Security (Payroll Tax)
shared by mattdeaton on Jul 08
3
views
0
faves
0
comments
As we face a drastic underfunding of Social Security, there are a few options to help rebuild the system. One option would be to increase the Payroll Tax from 12.4% to 15.2% from the year 2028 to 2057...
, and then raise it to 18% in 2058. This would completely eliminate the funding shortfall, and in fact create a surplus. A less dramatic course of action would be to raise the Payroll Tax .1% a year for the next 20 years until it reaches 14.4%, which would eliminate roughly 49% of the shortfall.
Source
https://acut...etirement/Category
EconomyGet a Quote
You may also like...
