As Income Inequality Skyrockets, the Rich Are Paying Less Into Social Security

New research shows that the proportion of wages that were subject to Social Security taxes hit a record low in 2021, as income inequality has skyrocketed and those receiving the highest incomes are paying proportionally even less into Social Security funds. According to a new analysis by the Economic Policy Institute (EPI), the share of earnings subject to the tax hit its lowest level in nearly 50…

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