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Actually, the tax limit has been risen a few times, I remember when it was ~68000 and then it ended up being ~98000 in the late 90s, maybe in the Clinton Admin.
by jmclnx 3y ago
Actually, the tax limit has been risen a few times, I remember when it was ~68000 and then it ended up being ~98000 in the late 90s, maybe in the Clinton Admin.
I think it is now ~163000, I can only assume that that was done by Obama.
In today's environment, as you say, I doubt it will be raised until 2/3 of the Senate and the Pres wants to raise it.
- Server6 2y agoThe social security tax limit is indexed with inflation and updated annually by the IRS without an act of congress. This indexing is factored into their funding calculations.