[kabar]

The cap is currently $97,500 and it goes up every year. In 2000, it was $76,200

Removing Social Security's Tax Cap on Wages Would Do More Harm Than Good--It would require the largest tax increase in U.S. history, subjecting millions of American families to a massive hike in their payroll taxes and further reducing an already dismal rate of return. This change would harm America's economic prospects by slowing economic growth and reducing employment opportunities.

[napscoordinator]

In 7 years it went up 20 grand. Dang!!!!! Soon they will just lift the cap completely.

[napscoordinator]

I know the article says it would do a huge amount of harm to families, but I just don’t think politicians care about that anymore...if ever.

[poobear]

Don’t forget, SS/MED is matched by Employers. Keep sticking it to small entrepreneurs and see what happens. Right now my SS/Medicare matching funds are triple what I deposit monthly in Federal Withholding. Most of our employees get THAT back. The Federal Government is running on SS/MED withholding and Employer matching funds.