Moreno’s Social Security tax hike would hurt working families, businesses
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Explained simply
Social Security is a US government programme that provides retirement, disability and survivor benefits. It is funded mainly through payroll taxes paid by workers and employers.
A proposal to raise those taxes would affect the amount workers and businesses pay, though the impact would depend on how the increase was designed. The debate matters because Social Security supports many people’s incomes, while payroll costs can affect take-home pay and employers’ expenses.