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I don't understand why there is a max income threshold for social security tax. Can anyone explain this to me?
by TheSpiceIsLife 9y ago
I don't understand why there is a max income threshold for social security tax.
Can anyone explain this to me?
- mpwoz 9y agoPresumably because over a certain threshold, you're paying far more than you'd ever expect to receive back from the program in retirement? Not saying I agree with it but that's my guess as to the reason.
- mobilefriendly 9y agoIt was conceptualized as a universal safety net pension program, not a welfare program or progressive redistribution program.