To: The United States House of Representatives
If it's not broken, don't fix it!
Dear U.S. Representatives,
Stop attacking Social Security, which is not related to the deficit, and lift the cap on income subject to Social Security taxes. This will secure the health and longevity of our country's most successful social program. "The noblest motive is the public good." (WPA)
Stop attacking Social Security, which is not related to the deficit, and lift the cap on income subject to Social Security taxes. This will secure the health and longevity of our country's most successful social program. "The noblest motive is the public good." (WPA)
Why is this important?
Recipients of Social Security have paid into it for their entire working lives. To accommodate baby-boomers and secure Social Security's longevity, the easiest and most fair fix is to eliminate the cap on income subjected to Social Security taxes. After all, why should a person whose annual income is approximately $107,000 or less pay Social Security taxes on 100% of her/his income, while one who earns approximately $400,000 pays Social Security taxes on only 1/4 of his/her income?