The U.S. Social Security program is projected to face a funding shortfall in Q4 2032, potentially unable to pay full retirement benefits on time. To address this, proposals to tax high-income earners more to fund the program are gaining bipartisan attention. Currently, workers pay Social Security payroll taxes on annual earnings up to $184,500. Analysis suggests that completely eliminating the payroll tax cap could cover 67% of the program's 75-year funding gap.