A Ceiling to Be Raised

Word arrived of a ceiling to be raised. Ambrose: the payroll tax stops at a ceiling, and some Republicans would lift it so the wealthy pay more. Pim: fetch a ladder! Mrs. Applewhite: the fund runs short in 2032. The Toll Keeper: those elected this November draft the cure. Prudence: judge it by the pensioner's purse, not the fund, says one retirement researcher.

The fix for Social Security's 2032 shortfall is starting to take shape before the vote: even some Republicans, who usually resist tax rises, have proposed lifting the income ceiling on the payroll tax so wealthier households pay more, the lawmakers elected in November will probably draft the package, and a Morningstar retirement researcher says any plan should be judged by what it does to households' retirement, not only to the trust fund's balance.

Starring

🎙️The NarratorAmbrosePimMrs. ApplewhiteThe Toll KeeperPrudence