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Social Security Taxes

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Elizabeth Warren claims that she’s “fighting to get the wealthy to pay their fair share into Social Security” because it’s “a problem” that Elon Musk pays the “same amount in taxes for Social Security as your neighborhood dentist.”

IN FACT, politicians enacted SS with an explicit promise that “the most you will ever pay” in taxes is “3 cents on each dollar you earn, up to $3,000 a year.” Adjusted for inflation, the maximum SS payroll tax is now 8.6 times that amount.

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