Bernie Sanders Says Elon Musk Pays Same Social Security Tax as Someone Earning $184,500

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โดย 24/7 Wall St.·Read original
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Senator Bernie Sanders stated on X that Elon Musk, a trillionaire, pays the same amount into Social Security as someone making $184,500, highlighting the regressive nature of the payroll tax cap. Sanders introduced a bill to lift the cap and expand benefits by $2,400 a year, but independent estimates show that removing the cap alone would close only about half of Social Security's $26.1 trillion 75-year shortfall. The payroll tax applies only to wages up to $184,500 in 2026, meaning high earners pay the same dollar amount regardless of income above that threshold, while Musk's wealth is largely in equity that is not subject to the tax. Reaching fortunes like Musk's would require taxing investment income or net worth, not just wages. The Social Security trust fund is projected to be exhausted by 2033, which would trigger an automatic benefit cut of roughly 25% if Congress takes no action.

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