WASHINGTONPOST (Steve Thompson) - As Social Security fund runs dry, some Republicans say it’s time to raise taxes
Raising the payroll tax is emerging as a popular fix — even in the anti-tax GOP — to fend off deep cuts in retirement benefits.
Raising the payroll tax is emerging as a popular fix — even in the anti-tax GOP — to fend off deep cuts in retirement benefits.
A bipartisan pair of senators is pushing for an end to Social Security's payroll tax cap. Is it a good idea?
'Illegal immigration fuels widespread payroll tax fraud.'
To save the program, we need to eliminate the payroll tax cap.
Speaker Mike Johnson’s (R-La.) call for Republicans to act on Social Security reform if they keep control of Congress in 2027 is getting pushback from Senate Republicans who warn it’s a bad political message heading into November. Yet, a trustees’ report that the popular retirement program will become insolvent sooner than expected has lit a fire under lawmakers in both parties to call for reforms such as raising the cap on payroll taxes, “means testing” beneficiaries, raising the retirement age, and creating personal accounts to invest in the stock markets. Read more: https://thehill.com/homenews/senate/5922483-johnson-social-security-republicans/ #SocialSecurity #MikeJohnson #Senate #SenateRepublicans #Republicans #GOP
The proposals span multiple areas, including local sales taxes, expanded sales taxes on services, a new payroll tax to fund paid family and medical leave and higher income tax brackets for top earners.