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Social Security is the nation’s largest social insurance program and the backbone of the U.S. retirement income system. When Franklin D. Roosevelt proposed the program in 1934, he emphasized the insurance aspect, presenting it as a safeguard against the “hazards and vicissitudes of life.” And those hazards can start early. Many young peo…
But subjecting inheritances to the payroll tax in addition could be even better In a great new book, BC Law professor Ray Madoff describes how the federal tax code has created two separate societies – working Americans who earn wages and pay taxes to support government programs and the ultrawealthy who have removed themselves from…
