Social Security’s Payroll Tax Cap Is Rising Again

Social Security’s payroll tax cap is rising again. Ashlea Ebeling and Richard Rubin report in The Wall Street Journal that “The annual COLA announcement comes as Congress is finally talking about how to prevent Social Security from going insolvent before automatic 22% benefit cuts start in 2032” with this “cost-of-living adjustment, or COLA, [being] the highest since 2023,” ...