Social Security Cap to Rise?; Bush Says He Is Willing to Consider Changing the $90,000 Cap On Income That Is Subject to the Tax
Telegraph - Herald (Dubuque) › February 18, 2005
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Summary
WASHINGTON (AP) - Increasing Social Security taxes for the wealthiest Americans could raise more than $100 billion per year - enough to shore up the retirement system's finances for 75 years, pay for President Bush's plan for private accounts, or part of each.
As it is, only the first $90,000 of a workers' wages are subject to the tax, but Bush says he's willing to consider changing that.See the full content of this document
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Social Security Cap to Rise?; Bush Says He Is Willing to Consider Changing the $90,000 Cap On Income That Is Subject to the Tax
Raising taxes, even if on the rich, is a risky political proposition. Both Republicans and Democrats distanced themselves from the idea Thursday.
"I don't know too many Republicans who are interested in doing that," said Sen. Rick Santorum, R-Pa. "I personally see th...See the full content of this document
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