You can thank reagan for that. Before him, the megawealthy were taxed a LOT (i don’t have exact figures, but it was something like 60%). Then reagan came in with his bullshit “trickle down economy” and that was that.
edit: just saw this is about social security funds, not taxes.
You can thank reagan for that. Before him, the megawealthy were taxed a LOT (i don’t have exact figures, but it was something like 60%). Then reagan came in with his bullshit “trickle down economy” and that was that.
edit: just saw this is about social security funds, not taxes.
There is a cap on social security tax so after you earn past the cap you don’t pay anything extra.
Elon Musk pays the same amount as a person who makes 190k a year.
Take away the cap and social security would be funded forever and a day.
I learned a lot about this by watching Sam Seder talk about SS. It is one of his hot topics.
i mean social security is taxes tho
oh, I’m not american and not entirely sure. Thanks for the correction.