How does it make you feel to know that millionaires and billionaires have already capped out on paying their Social Security taxes while the rest of America will continue to pay them all year? Did you know that raising the cap would strengthen Social Security and help eliminate any future problems with it?
This is too crucial to ignore. Too many people are kept from poverty by Social Security payments. Income inequality and caps on income are affecting the long-term health of the system that so many need to exist.
The Center for American Progress has identified recent trends that are having a negative impact on the health of our social safety net. Three important ones are: productivity is rising faster than wages, more earnings are concentrated above the cap on taxable earnings, and earnings below the cap are becoming more unequal. Obviously, this cannot be sustained.
Please take some time to read this article: “The Effect of Rising Inequality on Social Security,” https://www.americanprogress.org/…/the-effect-of-rising-in…/
After reading the article, please consider letting your elected representatives know how you feel and what actions you’d like to see them take to protect and preserve Social Security.
Also, this non-profit is fighting to inform and protect Social Security:http://www.ncpssm.org/
Pat Taylor Fuller has a blogspot named Pat’s Commentary