Social security

Our local congresswoman Angie Craig has introduced a bill to remove taxation on social security benefits. Her bill would reimburse the government for loss of tax by continuing the 6.2% deduction on all income over $250,000. Currently workers pay 6.2% of all income up to $168,000 but with her new bill that would resume on income above $250,000. This is a way to have high earners pay for the tax loss when taxing social security benefits goes away. This would help the problem of income distribution by helping low to middle income social security recipients from paying tax on their social security benefits. This is an indirect way to use a wealth tax.