Social Security Tax - The First $160,000 of Income Is a Subject to the Tax

On this week’s episode of Lever Time: A few weeks ago, House Republicans passed a bill to cancel new Internal Revenue Service funding. David Sirota sits down with journalist and tax policy expert Jesse Eisinger, who provides much-needed context on the GOP’s push to defund one of our most integral government agencies. (Yes, the IRS really is necessary.) Jesse explains how the modest investments passed by Democrats would help the beleaguered IRS hold accountable our worst tax cheats and create billions of dollars in new revenue, and how Republican efforts to defund the agency would lead to even more of its chronically lax oversight (12:08).

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A rough transcript of this episode is available here.