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Congressman John Larson

Congressman John Larson

60 Days into 2024 and Millionaires are Already Done Paying into Social Security

Congressman John Larson
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80% Informative

U.S. millionaires will stop paying into Social Security on March 2, 2024 .

Social Security's payroll tax doesn't apply to earned income above a certain level.

For 2024 , the cut-off is $ 168,600 , and capital gains are not subject to the levy.

A new survey shows 71% of likely voters want Congress to increase taxes on wealthy Americans .