#AceFinanceDesk – Biden’s campaign plan calls for restoring the long-term solvency of the program by having high-wage earners pay taxes toward Social Security. Currently, employees and employers each pay 6.2% from wages. But that is currently capped at wages of $137,700. Biden’s plan calls for applying those taxes to earnings over $400,000

CNBC reports ……..”It calls for increasing payments for individuals who have been receiving retirement benefits for at least 20 years. That would represent a 5% increase to the their full retirement age benefit amount. The idea is aimed at protecting those older individuals against having to deplete their savings.”

Published: Aug.23: 2020: https://t.co/8YyYYijLCF

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