Social Security is running out of money. Lawmakers want high earners to pay.

📡 CNBC Top News · 1 min read ·
Social Security will not have enough money to pay full benefits in six years. To fix this, more lawmakers from both parties now support raising taxes on high earners. The program is funded by payroll taxes. Currently, income above a certain level is not taxed for Social Security. Changing this rule could bring in more money to fund benefits. Details of the plan are still being discussed. It is not yet clear how this would affect the benefits people receive.