Warren and Moreno urge lifting Social Security payroll tax cap
Senators Elizabeth Warren (D-MA) and Bernie Moreno (R-OH) published a joint call to lift the Social Security payroll tax wage cap that currently exempts income above the annual taxable wage base. Their plan would subject all earnings to the FICA payroll tax and, by proponents' calculations, generate about $3 trillion in additional revenue over the next ten years. Supporters say that revenue would prevent an estimated roughly $500-per-month benefit cut for many retirees and extend the program's solvency for another generation. The bipartisan pairing matters because it breaks a long-standing political taboo on taxing high earners and could create a viable path to shore up retirement benefits without cutting current retirees' payments.
Bill Cassidy wants to screw with Social Security before he retires. His idea is to punt on benefit cuts for now (thank god) and on revenue sources (just increase the payroll cap!) and to instead invest $1.5 trillion into the stock market on behalf of the SSA Trust Fund. www.cnbc.com/2026/06/23/s...
Craig Harrington12This Rube Goldberg approach is better than cutting retirement benefits, but creating $1.5 trillion out of thin air to pump up the stock market (and hope those gains are sustained basically forever) is unnecessarily complex when you can just lift the payroll tax cap and fund SSDI for a century.
JoeBIn8184The stock market. The overvalued and being manipulated daily by Trump and his cronies stock market?
