TELL CONGRESS: Teachers, nurses, and customer service workers all pay a greater percentage of their incomes in Social Security taxes than Elon Musk and Jeff Bezos. It’s time to end this unfair, outrageous tax loophole. Sign the petition: End tax breaks for the ultra-wealthy and expand Social Security!

Hi,

While billionaires like Elon Musk take advantage of the broken American tax system, many seniors are struggling to get by.

While House Republicans try to slash Social Security, Senator Bernie Sanders is fighting to protect and expand benefits. Sen. Sanders said recently, “It is absurd that a billionaire in America today pays the same amount of Social Security taxes as someone making $168,000 a year.”1

Teachers, nurses, and customer service workers all pay a greater percentage of their incomes in Social Security taxes than Elon Musk and Jeff Bezos. It’s time to end this unfair, outrageous tax loophole for the rich and strengthen one of America’s most important social safety net programs.

Sign the petition: Protect and expand Social Security! It’s time to get rid of the ridiculous cap on Social Security taxes for millionaires and billionaires.

The vast majority of workers pay into Social Security all year long, but millionaires and billionaires don’t have to because of the cap on Social Security taxes.2 The Social Security Board recently released a report concluding that Social Security will have a funding shortfall without tax increases on the rich.3 This is a crisis for the American social safety net.

Big corporate CEOs only pay Social Security taxes at the very beginning of the year — then, their massive salaries roll into their bank accounts without paying into the program. This is not how our tax system should work. And it’s not how a democracy should function.

Instead of doing what the American people demand and making the wealthy pay their fair share, Wall Street-funded politicians are trying to set up a closed-door commission to cut Social Security in secret. We can’t let it happen.

Sign the petition to Congress: Scrap the Cap, protect Social Security, and make the ultra-wealthy pay their fair share!

Thanks for taking action,

Joey and the team at Demand Progress

Sources:

  1. Senator Bernie Sanders on Twitter, “It is absurd that a billionaire in America today pays the same amount of Social Security taxes...” September 5, 2024.
  2. Common Dreams, “Calls to 'Scrap the Cap' Grow as Millionaires Stop Paying Into Social Security for the Year,” February 28, 2023.
  3. CBS News, “Social Security projected to cut benefits in 2035 barring a fix,” May 7, 2024.

 

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