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Raising the Wage Cap No Painless Solution to Social Security's Fiscal Woes

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Publication Date: January 2007

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): David C. John; David C. John

Series: WebMemo

Topic: Banking and finance (Taxation and tax policy)

Keywords: Social security; economy; taxes

Type: Brief

Coverage: United States

Abstract:

Raising payroll taxes is the wrong solution to Social Security's long term financing problem, and it is not the way to achieve retirement security for Americans.