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Should the U.S. raise payroll taxes to save Social Security?

Raising payroll taxes enough to stabilize Social Security could add thousands of dollars in annual costs, according to one analysis.

  • Raising payroll taxes to 17% would cost median earners $2,600-$3,000 annually
  • Bipartisan support for raising maximum income subject to Social Security tax
  • 65% of Democrats and 62% of Republicans back lifting the income cap

Mortgage rates top 7% for the first time since May 2024

As rates climb, more buyers are seeking riskier adjustable-rate mortgages, according to the Mortgage Bankers Association.

  • Mortgage rates surpassed 7% for the first time since May 2024
  • 30-year fixed-rate mortgage peaked at 7.12% in the week ending September 18
  • Higher rates pressure borrowers amid near-record housing prices

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