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Removing Social Security payroll tax cap means 12 percentage point increase for high earners, Andrew Biggs notes

Removing Social Security payroll tax cap means 12 percentage point increase for high earners, Andrew Biggs notes
Social Security tax hike for higher incomes

Andrew Biggs highlights conservative support for eliminating the Social Security payroll tax ceiling. He points out that this change would result in a significant tax increase of 12 percentage points for individuals earning over $185,000.

Biggs previously noted that Americans retiring in the 2030s are on track to receive benefits 33 percent higher than their lifetime tax payments. He has also discussed how asset-backed pensions can boost measured wealth compared to pay-as-you-go systems. These points have shaped debates around Social Security funding.

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