Will Biden Live Up to Promise of imposing the 6.2% Social Security tax on earnings above $400,000?
Article Excerpt: "...plan hinges on imposing the 6.2% Social Security tax on earnings above $400,000. Employees and their employers are taxed on earnings up to $137,000 under current guidelines. If enacted next year, Social Security would collect 7% more in revenue in 2021, 12% more in 2040, and 16% more in 2065..."
Resource: yahoo.com