John,
No matter what month it is, when I look at my paycheck, I see money going in to fund Social Security through FICA contributions.
But when someone earning a million dollars looks at their next paycheck, that line will be ZERO. And it won’t come back until 2025.
That’s because FICA contributions are capped for Social Security. Once you’ve earned $168,600 in a calendar year, the withholding stops.
We should scrap the cap for Social Security. We did it for Medicare in the 1990s―it’s time to do it for Social Security too.
Tell Congress: Scrap the cap! Make millionaires pay the same rate as the rest of us, and EXPAND, don’t cut, Social Security benefits!
Right now, Congress is considering attaching a closed-door commission to cut Social Security and Medicare to an upcoming government funding package. Republicans want to meet behind closed doors because they’d rather cut benefits for people who have paid into Social Security their whole lives than make millionaires and billionaires pay in at the same rate as the rest of us.
We win by making that choice crystal clear.
Tell Congress: Scrap the cap! Expand Social Security!
Thank you,
Alex Lawson Social Security Works
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