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Response to HiPointDem (Reply #35)

Sat Nov 17, 2012, 03:37 PM

37. 90% was not the original cap, btw.

Back in 1983, the ceiling was set so the Social Security payroll tax would hit 90 percent of all wages covered by Social Security. That 90 percent figure was built into the Greenspan Commissionís fixes. The Commission assumed that, as the ceiling rose with inflation, the Social Security payroll tax would continue to hit 90 percent of total income.


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LineLineLineLineLineLineLineLineLineLineReply 90% was not the original cap, btw.
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