This Thursday, millionaires and billionaires will stop paying into Social Security. To shine a spotlight on this unfair policy, Social Security Works is joining with Social Security Champion Bernie Sanders for a national day of action.
Sign the pledge today! Pledge to call your Senators this Thursday, February 16th and tell them that millionaires and billionaires should pay into Social Security at the same rate as the rest of us—and that doing so would allow us to expand benefits. We will send a script and a reminder Thursday.
Right now, the way we fund Social Security―a regressive practice that only applies to the first $127,200 of a wage earner’s income―contributes to wealth and income inequality in the U.S.
A millionaire won’t pay anything into our Social Security system for at least the last ten and a half months of the year. This is because our Social Security system is primarily funded by payroll contributions (or FICA). Once the FICA cap of $127,200 is reached, millionaires and billionaires stop paying into the system, while the vast majority of Americans continue to pay in on all of their salary.
Stand with Senator Bernie Sanders and Social Security Works. Pledge to call your Senators this Thursday and tell them to “scrap the cap” on Social Security payroll contributions and demand the wealthy pay their fair share.
Social Security benefits provide critical financial stability to seniors, children, surviving spouses and veterans. It is outrageous that Republicans―at the behest of their Wall Street backers―continue to call for cuts to Social Security based on a future projected shortfall to the trust fund when all we need is to ask millionaires and billionaires to pay their fair share!
Sign the pledge today. Join Social Security Champion Bernie Sanders in calling on Congress to “scrap the cap” and require millionaires and billionaires to pay into Social Security at the same rate as the rest of us.
Thank you,
Michael Phelan
Social Security Works
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