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MAGAs, you won't like this, but Trump squandered his presidency in a year. He is tanking.
17 Aug 2026 1:50 pm
Most Americans pay the payroll tax -- currently 12.4%, split evenly between employee and employer -- on all of their income each year, but that's not true for the wealthy. The Social Security Administration only assesses this tax on the first $184,500 a person earns in 2026, so those who earn more than this aren't paying the tax on money over this limit. ////// in other words millionaires only pay social security tax on only 184,000. That Ieaves over $800,000 not taxed and that is just one person.Fuelman » 17 Aug 2026, 12:20 pm » wrote: ↑ It sounds like a good idea until that high earner reaches retirement age.
If there were no taxable earnings cap, someone earning $500,000 a year for 35 years would receive an estimated $13,500 to $14,500 per month in Social Security benefits at full retirement age, scaling up to roughly $18,000 a month if they delayed claiming until age 70.