Proposed Provision: Make 90% of the earnings subject to the payroll tax (phased in 2011-2020). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum, phased in from 2011-2020. This additional tax rate would be paid by employers on wages of their employees, and by self-employed workers on their earnings. Benefit computations for workers would only reflect earnings below the revised taxable maximum.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201012.312.313.113.1
201112.913.013.013.0
201212.913.212.812.8
201312.913.512.812.8
201412.913.712.912.9
201512.913.913.013.0
201613.014.113.113.1
201713.014.313.313.3
201813.014.513.513.6
201913.014.613.813.8
202013.014.714.114.2
202113.114.714.514.5
202213.114.814.714.8
202313.114.815.015.0
202413.114.815.315.3
202513.114.815.515.6
202613.114.815.815.8
202713.214.816.016.0
202813.214.916.116.2
202913.214.916.316.3
203013.214.916.416.5
203113.214.916.516.6
203213.214.916.616.7
203313.214.916.716.8
203413.214.916.716.8
203513.214.916.716.8
203613.214.916.716.9
203713.214.916.716.9
203813.214.916.716.9
203913.214.916.716.8
204013.214.916.616.8
204113.214.916.616.8
204213.214.916.616.7
204313.214.916.516.7
204413.214.916.516.7
204513.214.916.416.6
204613.214.916.416.6
204713.214.916.416.6
204813.214.916.416.6
204913.214.916.416.6
205013.215.016.316.6
205113.215.016.316.6
205213.215.016.316.6
205313.215.016.316.6
205413.215.016.316.6
205513.215.016.416.7
205613.215.016.416.7
205713.215.016.416.7
205813.215.016.416.8
205913.215.016.516.8
206013.215.016.516.8
206113.215.016.516.8
206213.215.016.516.9
206313.215.016.616.9
206413.315.016.616.9
206513.315.016.617.0
206613.315.016.717.0
206713.315.016.717.1
206813.315.016.717.1
206913.315.016.817.1
207013.315.016.817.2
207113.315.016.817.2
207213.315.016.917.3
207313.315.016.917.3
207413.315.017.017.4
207513.315.117.017.4
207613.315.117.117.5
207713.315.117.117.5
207813.315.117.217.6
207913.315.117.217.6
208013.315.117.317.7
208113.315.117.317.7
208213.315.117.317.8
208313.315.117.417.8
208413.315.117.417.8
208513.315.117.517.9
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