#social security Tech News.
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FinanceFortuneabout 2 hours ago
Lawmakers Open to Tax Hikes for Social SecurityAs the Social Security trust fund faces insolvency by 2032, a growing bipartisan group of U.S. lawmakers is signaling openness to raising payroll taxes. The fund's depletion would trigger a 22% benefit cut. Proposals include eliminating the $184,500 income cap on payroll taxes, which would generate an estimated $3 trillion over a decade, or lifting the cap to $400,000 and taxing investment earnings.
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