Jones, Janelle; Schmitt, John; Woo, Nicole - Center for Economic and Policy Research (CEPR) - 2012
The Social Security payroll tax cap is the earnings level above which no further Social Security taxes are collected …. The cap is currently at $110,100, though legislation has been introduced in Congress to apply the Social Security payroll …, finding that 5.8 percent of workers would be affected if the Social Security cap were eliminated entirely and 1.4 percent …