Thursday, February 16, 2017

Are You Still Paying Social Security Tax? SUCKER!

The rich stopped paying yesterday.  But they are still getting the max payout when they retire.  When they retire on your taxes.

From Social Security Works:

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.
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.
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!
Call Senator Mitch McConnell and Senator Rand Paul today: (202) 224-3121
Suggested call script:
My name is Lisa Aug and I live in Kentucky.
I am calling because for the rest of the year, millionaires and billionaires won’t pay into Social Security.
I urge the Senator to support legislation that lifts the Social Security payroll cap so that the wealthy pay their fair share into Social Security all year--just like the rest of us.
Because when they do, we’ll be able to extend the lifespan of the Social Security Trust Fund and expand benefits for millions of Americans.
I urge the Senator to “scrap the cap” on Social Security payroll contributions. Thank you.
Thank you for standing with Social Security Works and Senator Bernie Sanders in our fight to protect and expand Social Security.
Thank you,
Michael Phelan
Social Security Works

No comments: