This Change Is Almost Guaranteed to Come to Social Security in 2025 -- and a Lot of People Won't Like It
Millions of older Americans today collect a monthly benefit from Social Security. But as you might imagine, the money to fund the program has to come from somewhere. And that "somewhere" is your paycheck.
Of course, it's not just you. Whether you earn $20,000 a year or $200,000, you're helping to fund Social Security via payroll taxes. But there's a key difference in the context of Social Security between people earning $20,000 a year versus $200,000.
If you're in the former boat, your entire salary is subject to Social Security taxes. If you're in the latter category, you're not paying Social Security taxes on your entire $200,000 of earnings.
Source Fool.com
