- United States
- Tenn.
- Letter
Vote to lift the payroll tax cap. The Social Security trust fund runs dry in 2032, and without action, 75 million Americans will see their monthly checks shrink by $440 on average. That's not a distant problem — it's six years away, and the fix requires nearly $500 billion in 2033 alone.
Right now, a middle-class nurse pays Social Security taxes on every dollar she earns. A wealthy corporate lawyer stops paying after the first $168,000. That's indefensible. Removing the cap would close more than half the program's shortfall, according to the Committee for a Responsible Federal Budget. Senators Moreno and Warren have already put this on the table. Rep. Cole and Rep. Smucker have said revenue has to be part of the solution. Even 62 percent of Republicans support lifting the cap.
The political math is simple: benefit cuts will cost you far more than a tax fix. Get this done.