Published on: 04/06/2025
This news was posted by Oregon Today News
Description
There is a simple fix for Social Security: Remove the taxable maximum cap so it isn’t a regressive tax. Right now, middle class and poorer working people pay the Federal Insurance Contributions Act tax on every single dollar they earn. But rich people pay FICA on only a small part of their earnings; once they hit the taxable maximum cap, they don’t pay any more. How does this make sense? If the cap were removed, it would not only help keep the fund solvent, but it is likely that the percentage of the FICA tax could also be reduced for everyone.
News Source : https://www.oregonlive.com/opinion/2025/04/readers-respond-get-rid-of-ficas-taxable-maximum-cap.html
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