John,

Each year, 94% of U.S. workers pay into Social Security on all of their income.[1] But millionaires stop paying by the end of February. And billionaires like Elon Musk stop paying into Social Security just hours into the New Year.[2]

This is because, after you earn $160,200 in the year, you stop contributing to Social Security. With more and more Americans due benefits as Baby Boomers retire; and more and more income untaxed because it’s going to the richest 1%, starting in 2034, Social Security will only be able to pay roughly 80% of benefits owed. We need to head off that problem now.

The Republican solution―encouraged by their Wall Street benefactors―is to cut or privatize benefits. They’ve even called for the creation of a so-called “fiscal commission” to plot behind closed doors to cut Social Security and other critical services. But the responsible solution to Social Security’s projected future shortfall is making millionaires and billionaires pay their fair share of taxes. And there are multiple plans in Congress to do just that!

Senators Bernie Sanders (I-VT) and Elizabeth Warren (D-MA) have introduced the Social Security Expansion Act of 2023, and Representative John Larson has introduced the Social Security 2100 Act.

There are some differences between the bills, but both would make millionaires and billionaires pay into Social Security all year long, just like almost all working people already do. And, both bills would increase benefits for millions of Americans while extending the lifespan of the Trust Fund.

Add your name now to tell Congress: Protect and expand Social Security by making the wealthy pay their fair share!

Social Security isn’t going broke as Wall Street and right-wing politicians want us to believe. It is facing long-term challenges to paying full benefits. But the way to prevent a projected 20% cut in benefits a decade from now is not to start cutting now. The solution is finally making the wealthy pay their fair share of Social Security payroll taxes.

Social Security is one of the most beloved and successful programs in U.S. history. Let’s continue to hold Congress accountable to the American people and tell them where the American people stand: Protect and expand Social Security! Make the rich pay their fair share!

Add your name now and tell Congress to pass legislation that strengthens and protects Social Security for generations to come―paid for by making the wealthy pay their fair share of taxes.

Thank you for fighting for the future of our earned benefits and for a future that leaves no one behind.

David Kass
Executive Director
Americans for Tax Fairness Action Fund

[1] Social Security is one tax you won't have to pay anymore this year if you're a millionaire
[2] 200 People Already Paid Their Social Security Taxes: Happy New Year!