Robert Reich
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The income cap on Social Security taxes is rigged for the rich.

A CEO earning $20 million a year pays Social Security taxes on ~1% of their income

Meanwhile, a normal worker earning under the cap pays Social Security taxes on 100% of their income.

How does that make any sense?
The Real Reason Social Security Is in Danger | Robert Reich - YouTube

Social Security taxes are rigged for the rich — and the program is in danger because of it.A CEO earning $20M/yr pays Social Security taxes on ~1% of their i...

10:41 AM - Jun 27, 2023
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sandi
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In response to Robert Reich.
That’s because everyone pays social security tax on the first $160,200 of income, no matter how much they make, if you make less, you’ll pay on 100%. If you make more, then your ss tax will end before the end of the year or it’s refunded. That’s why the rich are done paying their ss taxes in Jan
11:21 AM - Jun 27, 2023
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