The wealthy are an easy target so it's likely that they'll raise or eliminate the cap so that they can steal more of our money. This year it's $137,700. After that, SS takes no additional tax. Naturally, of course, there will be no increase in benefits. At $137,700, the earner will have contributed $8,537.40 and his/her employer an equal amount on his/her behalf.
Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes
Peter1469 (07-14-2020)