To: President Donald Trump, The Alabama State House, The Alabama State Senate, Governor Kay Ivey, The United States House of Representatives, and The United States Senate
Remove the cap on payroll taxes
Payroll taxes are disproportionately and unfairly collected on the working men and women of this country causing funding shortages. The current payroll cap on wages in excess of $113,700 per year costs this country greater than $100 Billion in lost revenue each year, enough to keep Social Security viable for many generations to come!
Why is this important?
There are relentless congressional efforts underway to privatize social security and to get the public to readily go along with it, you hear politicians say things like, “Entitlements are killing us!” “We have to reform entitlements!” “The debt is unmanageable.” “We have too much debt and we must reform entitlements!” “Social security is going to go broke!” “We can’t keep paying social security benefits at the same rate we’re paying now – we’ll go broke!”
It’s all hype designed to scare you into letting those nice folks in Congress “take care of us poor hapless minions that haven’t a clue how to save ourselves from this very dismal future!” Malarky! I’m going to educate you a bit so you’ll know what it’s all about and how we’re going to fix it! But you have to help! You have to make noise! Your congressional representative and Senators have to know that you are serious and will vote their asses out of office if they don’t start taking care of the 95% of Americans that don’t make enough money to hit the cap on social security taxes!
Too easy! Social security (OASDI – the Old Age, Survivors, and Disability Insurance) part of the fund, in 2012, had a reserve of $2.732 Trillion dollars! While it’s true that we are beginning to pay out more than is taken in, we are about two plus decades away from running the fund out of money at today’s rates of inflows and outflows. But guess what? SOCIAL SECURITY DOES NOT ADD ONE PENNY TO THE NATIONAL DEBT! The TV hype, regardless of your party affiliation, will make you think that social security spending is very bad indeed and it seems many Americans think it increses deficit spending. IT DOES NOT! NOT ONE PENNY! Yes, it’s true, Social Security and Medicare together is about 38 percent of federal budget expenditures but so what! This is our money that we gave to the Governemtn for the sole purpose of providing needed social program services!
But it drives them nuts to think that there is $2.7 Trillion dollars just sitting there not being used by banks and financial institutions to gamble with! And with that gambling (privatization) comes very sizable kick-backs to members of Congress for having privatized Social Security to begin with! Wow! What a windfall for corporate interests! hey, Here's $2.7 Trillion dollars you can go play with! Some in congress want to start a "voucher" system for Medicare payments with a lifetime benefit cap! Ever been cut off or denied a procedure or medical service by an insurance company? What do you think will happen to social security if privatized? Privatization means FOR PROFIT not FOR PEOPLE as it is today!
How to make sure social security stays around forever? Too easy - get rid of the cap on social security wages! Those top 5% of earners in America that make more than $113,700 per year do not pay any additional social security taxes. In other words, as a percentage of their income, they pay less than you do (lower rate). Does that sound fair? Mitt Romney, for example, pays ZERO social security taxes – all of his income is derived from financial investments, which are not taxed for social security. Warren Buffett the same, Bill Gates and many others but just a few names you may recognize.
Removing the payroll cap on Social Security taxes will generate an additional $100 Billion a year for social security and it will come from the top 5% of wage earners in this country. Most Americans won’t pay a dime more.
Please support this petition and share with your friends. Let’s let our Congressional representatives know we want equity in the system and we want the cap on payroll taxes removed!
It’s all hype designed to scare you into letting those nice folks in Congress “take care of us poor hapless minions that haven’t a clue how to save ourselves from this very dismal future!” Malarky! I’m going to educate you a bit so you’ll know what it’s all about and how we’re going to fix it! But you have to help! You have to make noise! Your congressional representative and Senators have to know that you are serious and will vote their asses out of office if they don’t start taking care of the 95% of Americans that don’t make enough money to hit the cap on social security taxes!
Too easy! Social security (OASDI – the Old Age, Survivors, and Disability Insurance) part of the fund, in 2012, had a reserve of $2.732 Trillion dollars! While it’s true that we are beginning to pay out more than is taken in, we are about two plus decades away from running the fund out of money at today’s rates of inflows and outflows. But guess what? SOCIAL SECURITY DOES NOT ADD ONE PENNY TO THE NATIONAL DEBT! The TV hype, regardless of your party affiliation, will make you think that social security spending is very bad indeed and it seems many Americans think it increses deficit spending. IT DOES NOT! NOT ONE PENNY! Yes, it’s true, Social Security and Medicare together is about 38 percent of federal budget expenditures but so what! This is our money that we gave to the Governemtn for the sole purpose of providing needed social program services!
But it drives them nuts to think that there is $2.7 Trillion dollars just sitting there not being used by banks and financial institutions to gamble with! And with that gambling (privatization) comes very sizable kick-backs to members of Congress for having privatized Social Security to begin with! Wow! What a windfall for corporate interests! hey, Here's $2.7 Trillion dollars you can go play with! Some in congress want to start a "voucher" system for Medicare payments with a lifetime benefit cap! Ever been cut off or denied a procedure or medical service by an insurance company? What do you think will happen to social security if privatized? Privatization means FOR PROFIT not FOR PEOPLE as it is today!
How to make sure social security stays around forever? Too easy - get rid of the cap on social security wages! Those top 5% of earners in America that make more than $113,700 per year do not pay any additional social security taxes. In other words, as a percentage of their income, they pay less than you do (lower rate). Does that sound fair? Mitt Romney, for example, pays ZERO social security taxes – all of his income is derived from financial investments, which are not taxed for social security. Warren Buffett the same, Bill Gates and many others but just a few names you may recognize.
Removing the payroll cap on Social Security taxes will generate an additional $100 Billion a year for social security and it will come from the top 5% of wage earners in this country. Most Americans won’t pay a dime more.
Please support this petition and share with your friends. Let’s let our Congressional representatives know we want equity in the system and we want the cap on payroll taxes removed!