On the recordApril 15, 2008
What I have proposed is that we raise the cap on the payroll tax because, right now, millionaires and billionaires don't have to pay beyond... $106,000 a year.
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congress.govEditor's note · Context
Obama proposed raising the payroll tax cap to ensure fairness in Social Security contributions.
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More from Barack Obama
Aug 20, 2025
And we’re going to do it in a temporary basis because we’re keeping our eye on where we want to be long term.
Apr 30, 2025
I believe these two reforms would have contributed significantly to the sustainability of Social Security.
Aug 20, 2025
I think that approach is a smart, measured approach, designed to address a very particular problem in a very particular moment in time.
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