There’s no need for a debate. It’s needs to be addressed and a solution which has existed for decades in the United States. The Social Security payroll tax applies only up to a wage cap. In 2026, that cap is around $184,500 of earned income. Earnings above that amount are not subject to the 6.2% employee Social Security tax or the 6.2% employer contribution. However, workers continue paying the 1.45% Medicare tax on all wages, and higher earners pay an additional Medicare surtax. Social Secur...

Why’s There a Cap on Social Security Contributions & Distributions?

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