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Dear John,
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Well that didn’t take long. It’s only March 2, but millionaires have stopped paying Social Security taxes on their income.
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High-income earners stop paying into Social Security when they reach $168,600 of income. And for many super-rich Americans, that means they stop paying Social Security taxes on the first workday of the year! But the rest of us have to pay Social Security taxes on every single dollar we’ve ever earned.
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That’s because of a harmful policy which is starving Social Security and threatening the long-term solvency of this vital program.
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John, help us right this wrong by signing our Petition to Congress today urging your member of Congress to cosponsor the “Social Security Enhancement and Protection Act” introduced by U.S. Representative Gwen Moore (WI-04). This important bill would make the wealthy pay their fair share into Social Security, while also increasing the special minimum benefit for certain low-wage workers, provide Social Security caregiver credits for parents who leave the workforce to care for a child, and boost benefits for seniors who have been on Social Security for a long time.
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Right now, the Social Security program is leaving billions of dollars on the table because millionaires and billionaires get away with paying Social Security taxes on just a fraction of their earnings. Today, a Wall Street CEO who makes $18 million a year pays the same into Social Security as someone earning $168,600.
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Instead of supporting the “Social Security Enhancement and Protection Act” and implementing these critical Social Security policy improvements, GOP lawmakers are calling devastating cuts and radical “reforms” to seniors’ benefits by among other measures raising the retirement age, means testing Social Security and even privatizing the program to benefit Wall Street brokers.
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Please support the National Committee’s full-scale campaign on Capitol Hill to pass legislation that requires millionaires to pay their fair share of a tax every other working American must pay all year long. Help us right this wrong immediately by signing our Urgent Petition today!
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