Repealing the Payroll-Tax Cap Won’t Save Social Security
Gail Collins, one of the most tedious repeaters of cheap partisan talking points in the business, has some thoughts about Social Security.
In one of her regular New York Times conversations with Bret Stephens—the asymmetry in partisanship is dramatic—Collins says:
[M]y top priority for fixing government finances is to get the rich to pay their fair share of Social Security taxes. … Right now, the Social Security tax cap is so low that anybody who’s made a million dollars or more this year has already maxed out. You and I are getting taxed right now, but Elon Musk isn’t.
This is, of course, nonsense.