Make the Wealthy Pay their Fair Share of Social Security Taxes
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Most Americans pay 6.20% of their incomes to Social Security taxes. But not so the wealthy. The Social Security tax applies only to the first $118,500 of income (the “cap”). As soon anyone reaches that limit, they’re done for the year.
LeBron James, for example, pays just 0.03% of his income toward Social Security taxes. In fact, he is finished paying his Social Security taxes in the second quarter of his first game of his season. Then he’s done for the rest of the game, and the rest of the season – including the playoffs.
Do you think the wealthy should pay the same percentage of their income in Social Security taxes as everyone else? So does Congressman Alan Grayson, which is why he has introduced the "Scrap the Cap" bill.
Add your name to become a citizen co-sponsor of the "Scrap the Cap" bill, and help make sure YOUR Social Security will be there for you, no matter how long you live >>
Some fret about the Social Security system gong broke. The solution is obvious. No cap, no problem. In addition to making our tax system more fair, scrapping the cap would make Social Security solvent forever. That's why Congressman Grayson has introduced a bill do that, and the Social Security Administration has confirmed that it solves the problem once and for all. Sure, some Republicans would be sad -- they’d have no excuse to push sadistic cuts in Social Security benefits. But the rest of us would be thrilled.
Help Congressman Grayson make Social Security solvent forever and ever by becoming a citizen co-sponsor of my “scrap the cap” bill now >>
"Scrap the cap! Count me as a supporter of Congressman Grayson's bill."