Why the Moreno–Warren Payroll Tax Hike Won’t Fix Social Security
A National Review opinion piece argues that Senators Bernie Moreno and Elizabeth Warren's plan to address Social Security's $30 trillion funding gap by taxing earnings above $184,500 would repeat the failed 1970s playbook: higher payroll taxes brought new revenues but also ballooned benefits. The author says its fiscal gains are overstated—revenue would leak through avoidance and lost income-tax offsets, high earners would face marginal rates above 60 percent, and only 28 percent of cash-flow deficits would be closed—urging bipartisan reform focused on protecting poor seniors.
