"Understanding Social Security Taxes in 2024: Who Pays More and State Implications"

The article discusses the potential future of Biden's economic policies, particularly the possibility of implementing a "perpetuity" tax on Social Security for incomes over $400,000. This would mean both employees and employers would pay an additional 6.2% tax on every dollar earned above this threshold. The author argues that with the Social Security Trust Funds projected to be depleted by 2041 and the U.S. facing a $34 trillion debt, increasing revenue through taxes on higher earners and corporations may become a more prominent solution. The article suggests that under Bidenomics, the wealthy and corporations are likely targets for increased taxation to address fiscal deficits.