The government could increase Social Security tax revenues by raising the payroll tax cap beyond its current $110,000.

Name: The government could increase Social Security tax revenues by raising the payroll tax cap beyond its current $110,000.
Brand: Quizplus
Rating: 4.9 (59 reviews)

Question

Quizplus · Accepted Answer

The payroll tax cap is the maximum income level on which Social Security taxes are levied. Raising this cap would mean higher income earners would contribute taxes on more of their income, thereby increasing Social Security tax revenues.

The Government Could Increase Social Security Tax Revenues by Raising