John,

With every paycheck we earn, we pay into our earned benefits with the knowledge that Social Security will be there for us in retirement, or if we become disabled or lose our spouse.

But, while you and I pay into Social Security on all of our earnings, that’s not the case for millionaires and billionaires.

This week ― 57 days into the year ― the wealthy will stop paying into Social Security, although most of them stopped paying in weeks ago. That’s because once you earn your first $142,800 in a calendar year, you stop contributing to Social Security.

Read Frank’s email below for more details on the plans in Congress to scrap the payroll tax cap, and then pitch in today to demand millionaires and billionaires pay their fair share into Social Security.

When they do, we’ll be able to expand benefits for millions of people and extend the lifespan of the Trust Fund.

Thank you for all that you do to fight for a future that includes all of us, not just the wealthy few.

Mark Rickling

Policy and Legislative Director
Americans for Tax Fairness

-- Frank's Email --

John,

This week, millionaires stop paying into Social Security. That’s because once you earn $142,800 in a year, you stop contributing to Social Security.

But if millionaires and billionaires paid into Social Security on a larger share of their income ― like you and me ― we could not only expand Social Security for millions of people, we could extend the lifespan of the Trust Fund.

And, there are several plans in Congress to do just that.

Donate $5 today to tell Congress to scrap the Social Security payroll tax cap and demand millionaires and billionaires contribute their fair share toward Social Security.

President Biden ran on a proposal to apply the 12.4% payroll tax (split evenly between employee and employer) on earnings above $400,000, which would affect just the top 0.4% of wage earners.[1]

Senator Bernie Sanders has a plan that would apply Social Security payroll taxes on earnings above $250,000, raising $1.4 trillion for Social Security and significantly extending the Trust Fund.[2]

At this time of deep financial insecurity for millions of people, Social Security’s future could not be more important. Donate today to fight to expand our earned benefits and extend the lifespan of the Social Security Trust Fund ― paid for by making millionaires and billionaires pay their fair share.

If you've saved your payment information with ActBlue Express, your secure donation will go through immediately:

Together, we’re demanding an economy and a tax system that works for everyone, not just the wealthy few.

Frank Clemente
Executive Director
Americans for Tax Fairness

[1] The Social Security 2100 Act, U.S. Rep. John Larson

[2] “An Analysis of Senator Sanders's Tax Proposals,” Tax Policy Center, March 19, 2020