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Social Security Gap

B
Benzinga

43 Views • Mar 10, 2026

Description

Individuals earning $1M+ annually stopped paying Social Security payroll taxes by Monday, while Elon Musk likely hit the $184,500 cap on New Year's Day. The SSA projects the retirement trust fund could be depleted by 2032, triggering a 24% benefit cut unless Congress raises the payroll tax cap.