WSJ editorial board hits Marshall for backing Social Security tax increase
Summary
The Wall Street Journal editorial board criticized Senator Roger Marshall for supporting the removal of the income limit for Social Security taxes. The editorial said this change would cause a large tax increase during peacetime.Key Facts
- Senator Roger Marshall is a Republican from Kansas.
- He supports removing the cap on the amount of income taxed for Social Security.
- Currently, only income up to a certain limit pays Social Security tax.
- Removing the cap means high earners would pay Social Security taxes on all their income.
- The Wall Street Journal editorial board called this change a major tax increase.
- They described it as one of the largest peacetime tax hikes in recent years.
- The criticism is focused on the potential economic impact of the tax change.
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