Why Raising the Payroll Tax Wouldn't Fix Social Security

As Congress stares down the estimated 2032 insolvency date for the main Social Security trust fund, some politicians — even some Republicans who normally oppose tax increases — are talking about raising the payroll tax to fund the program. While some tax increases will probably be necessary to improve America’s overall fiscal predicament, the Social Security payroll tax is the worst candidate for a hike. Read Full Article »