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John,
Never trust anyone who would rather raise the retirement age than scrap the cap on how much high-income earners contribute to Social Security.
But that’s exactly what most Republicans propose as their plan to “save” Social Security.
Thankfully, there’s a much better solution than cutting benefits: scrapping the payroll tax cap and making the folks with monster salaries pay their fair share into Social Security.
Right now, American workers only pay into Social Security on their first $160,200 in wages. That means those lucky few with million-dollar salaries are done paying into Social Security in February!
But if those with super high-incomes paid into Social Security on a higher percentage of their salaries, just like regular working people do, we’d be able to expand benefits and extend the lifespan of the Social Security trust fund.
Sign now and tell Republicans: We will not raise the Social Security retirement age!
With Labor Day weekend almost upon us, let’s fight back against Republican attempts to make us work until we die. Together, let’s keep fighting for a tax system and an economy that puts working people first.
Thank you,
Sarah Christopherson
Legislative and Policy Director
Americans for Tax Fairness Action Fund
-- David's email --
John,
If nothing is done, starting in 2034, Social Security will only be able to pay roughly 80% of benefits owed.[1]
This is because American workers only pay into Social Security on their first $160,200 in wages. And, as a result of rising income inequality, more and more is going to the richest 1%, and less and less is being paid into Social Security.
In fact, people with million-dollar salaries stop paying into Social Security each year by the end of February.
Many Republicans have called for “solutions” such as raising the retirement age, but there’s another solution that doesn’t hurt working people: scrapping the payroll tax cap and making the wealthy pay into Social Security on all of their income, just like most working people do.
Add your name now and tell Republicans: We will NOT raise the Social Security retirement age!
Before Social Security, 50% of seniors lived in poverty. Today, that number is less than 10%―still too high, but a major improvement for the 50 million seniors who rely on Social Security each year.
We will not let Republicans take us backwards. At a time when guaranteed retirement pensions are vanishing, younger generations may need to rely on Social Security even more than their parents and grandparents did.
We don’t need to raise the retirement age, we need to make the wealthy pay their fair share in taxes.
Sign now! Tell Republicans: We will NOT raise the retirement age.
Together, we will never stop fighting for an economy and a tax system that works for working people, not just the millionaires and billionaires.
Thank you,
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] Social Security Board of Trustees: Projection for Combined Trust Funds One Year Sooner than Last Year
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