Social Security: Raising or Eliminating the Taxable Earnings Base
Description:
Social Security taxes are levied on earnings up to a maximum level set each year.
In 2004, this maximum — or what is referred to as the taxable earnings base — is
$87,900. There is no similar base for the Medicare Hospital Insurance (HI) portion of
the tax; all earnings are taxable for HI purposes. Elimination of the HI base was
proposed by President Clinton and enacted in 1993, effectively beginning in 1994.
Recently others have proposed that the base for Social Security be raised or eliminate…
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Date:
January 20, 2004
Creator:
Haltzel, Laura
Item Type:
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Report
Partner:
UNT Libraries Government Documents Department