|
John,
Tomorrow, millionaires stop paying into Social Security. That’s because once you earn $160,200 in 2023, you stop contributing to Social Security. And someone making $1 million a year gets their first $160,200 in just 59 days. For a billionaire―they made that much shortly after the first hour of the year!
But if millionaires and billionaires paid into Social Security on a larger share of their income―like everyone else does who makes under $160,200―we could not only expand Social Security for millions of people, we could greatly 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.
To counter GOP attempts to cut our earned benefits, Senator Bernie Sanders (I-VT) has introduced the Social Security Expansion Act of 2023, which would increase benefits by $2,400, extend the lifespan of the Trust Fund by 75 years and much more. And, it’s completely paid for by scrapping the payroll tax cap on incomes over $250,000―meaning that millionaires and billionaires would finally start paying more of their fair share.[1]
In the House, Rep. John Larson (D-CT) has previously introduced the Social Security 2100 Act: A Sacred Trust, which would affect just the top 0.4% of wage earners. It would fulfill the promise of our Social Security system by improving benefits for millions of seniors living in poverty and extending the lifespan of the Trust Fund―once again, paid for by making the wealthy pay more of their fair share.[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:
Frank Clemente
Executive Director
Americans for Tax Fairness
[1] “NEWS: Amid Republican Threats to Social Security, Sanders, Warren, Schakowsky, Hoyle, and Colleagues Introduce Legislation to Increase Benefits and Extend Solvency Through 2096,” U.S. Senator Bernie Sanders, Feb. 13, 2023
[2] The Social Security 2100 Act, U.S. Rep. John Larson
|
