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Social Security benefits to rise 5.9 percent for roughly 70 million people in 2022

Mount Equity Group Tokyo, Japan > News > Markets > Social Security benefits to rise 5.9 percent for roughly 70 million people in 2022

Also changing is how Social Security taxes are assessed. The program’s taxes are subject to a cap, because it was set up with the intention of having the amount workers paid into the system to mirror what they receive in retirement. Currently, the maximum amount of earnings subject to the Social Security tax is $142,800, but that amount will increase to $147,000.

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