Social Security legislation just introduced in the House would keep the system solvent through the rest of this century. Rep. John Larson’s Social Security 2100 Act gives lie to the myth that Social Security is going bankrupt and the only way to fix it is by cutting benefits. It would apply the Social Security payroll tax to wages above $400,000, which only would affect the top 0.4% of wage earners. (Currently, earnings above $127,200 are exempt from the payroll taxes.) Eventually, the cap would be phased out. In addition, the legislation would gradually raise the overall payroll tax rate by 1% over 25 years In exchange, the legislation ensures Social Security stays solvent through the year 2100 – with no benefit cuts and no turning over the program to Wall Street,
Read more here.
Call Steve Knight’s office and say:
I just learned about Representative John Larson’s Social Security 2100 Act to save Social Security through the next century. Please support this proposal.