- United States
- Tenn.
- Letter
Vote to lift the payroll tax cap so that billionaires and the ultra-wealthy pay into Social Security on every dollar they earn, just like the rest of us do. Right now, someone making $170,000 a year pays the same Social Security payroll tax as someone making $170 million. That's indefensible, and it's fixable.
The Big Beautiful Bill is projected to create a $169 billion shock to the Social Security system and accelerate the OASI Trust Fund depletion date to late 2032, according to the Social Security Administration's own actuaries. The Committee for a Responsible Federal Budget warns that trust fund depletion could trigger a 24% average benefit cut for every worker and retiree in this country. Seniors, disabled workers, and people who paid into this system their entire lives would take the hit while the wealthiest Americans continue to skate by on a capped contribution.
Lifting the payroll tax cap is the most straightforward way to shore up Social Security without cutting a single benefit. Make the wealthy pay their fair share, and the funding crisis largely solves itself. I expect you to fight for that.