How Have Automation and Trade Affected the Taxable Share of Covered Earnings?

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Rising U.S. income inequality is pushing more high-income workers above Social Security’s payroll tax cap and shrinking the share of all workers’ earnings subject to this tax. Trade with China is driving up inequality, which is one part of the reason for the drop in the taxable share of earnings.

Center for Retirement Research
Center for Retirement Research
How Have Automation and Trade Affected the Taxable Share of Covered Earnings?
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