Save Social Security - Support "Scrap the Cap"

Kenneth Quinnell at Crooks and Liars:

The Economic Opportunity Institute and Social Security Works released a new video this week that features two senior citizens rapping "Scrap the Cap," a reference to the easiest and most logical solution to the long-term funding of Social Security. The organizations are quick to point out that talk of a 'crisis' in Social Security is nonsense since the program currently has a $2.6 trillion surplus, and that scrapping the cap on taxable income for Social Security is a good fix for the long-term projections of a funding shortage. Currently, everyone paying into Social Security only pays taxes on the first $106,800 of their income and nothing on any income above that, effectively meaning that wealthier citizens pay no Social Security taxes on most of their income. Eliminating this cap would make the program solvent for a much longer time period.

Anyone who supports "Scrapping the Cap," can take action on the web site related to the video.