In 2017, the maximum earnings subject to Social Security taxes was $127, 200. So a millionaire or billionaire is taxed at the same rate, approximately $7900 per year. If we drastically raise that cap--or eliminate it altogether, we could raise benefits, lower the age of retirement, and fund Social Security into the next century.
Why is this important?
This is for everyone who is forced to live mostly or entirely on their Social Security.
