How Do We Save Social Security? Eliminate the Payroll Cap
| % of Income Paid toward Social Security | |
|---|---|
| $20,000 | 6.2 |
| $40,000 | 6.2 |
| $80,000 | 6.2 |
| $110,100 | 6.2 |
| $220,020 | 3.1 |
| $440,400 | 1.6 |
| $506,000 | 1.3 |
| $1,000,000 | 0.7 |
| $10,000,000 | 0.07 |
| $20,000,000 | 0.03 |
Annual Income
Sources:
faireconomy.org
faireconomy.org