President Obama will call for shrinking the nation's long-term deficits by raising taxes on wealthier Americans and requiring them to pay more into Social Security, drawing a barbed contrast with a Republican plan to save money by deeply slashing Medicare, Medicaid and other domestic spending. ...
Obama would end tax breaks for households earning more than $250,000 a year, trim Pentagon spending, lift a cap on the amount of income that is assessed for Social Security, and save on Medicare and Medicaid through alterations to healthcare delivery, administration officials said. He will speak about 1:30 p.m. Eastern time on the campus of George Washington University.
Apr 12, 2011
President To Propose Ending FICA Cap
From the Los Angeles Times:
Labels:
Financing Social Security
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