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Proposals to shore up Social Security could expand higher payroll taxes
One approach discussed would eliminate the Social Security tax cap, raising payroll taxes for higher earners.
MarketWatch reports that proposals aimed at shoring up Social Security finances include changing how payroll taxes apply for higher earners.
The outlet notes that eliminating the Social Security tax cap is one of the options under consideration, which would expand who could pay higher Social Security taxes.
MarketWatch frames the tax cap change as a way to help increase revenue for the program amid ongoing funding concerns.
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