Medicare and Social Security Fair Share Act

[AI summary unavailable — showing source text] Medicare and Social Security Fair Share Act This bill increases funding for the Social Security and Medicare trust funds by extending the payroll tax on wages, self-employment income, and investment income to taxpayers with earnings exceeding $400,000. The bill also applies a payroll tax on the pass-through business income of taxpayers earning more than $400,000 (thus eliminating the classification of earned income as distributed business profits).…