Johnson said he wanted to look at all possible solutions for Social Security funding, but he was skeptical of one suggestion: Raising the cap on Social Security taxes for the rich. “The Social Security payroll tax right now is 12.4 percent of income. You start lifting the cap on that and thats going to be very penalizing … You’re not going to raise the revenue you think you’re going to raise, he said. **I say dont just raise the cap, eliminate it.
Posted on: Tue, 12 Aug 2014 21:33:20 +0000