Social Security contributions cap out at $160,000. A person making $160,000 and a person making $1,000,000,000 [1 billion] make the same contributions. That's $999,840,000 that is free of social security taxes.
The system is rigged.
Social Security contributions cap out at $160,000. A person making $160,000 and a person making $1,000,000,000 [1 billion] make the same contributions. That's $999,840,000 that is free of social security taxes.
The system is rigged.