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Simple cure for Social Security!

On January 1, the Social Security payroll tax cap rose from $110,100 in 2012 to $113,700. This means that annual income up to $113,700 per year became subject to the 6.2 % payroll tax, but not applicable to anything above that. If just the wealthiest 1 in 20 workers (top 5.2 %) would pay the Social Security tax on their annual income above $113,700,  only 1 in 75 (top 1.3 %) workers would be affected.

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