Common Dreams - Is your salary less than $160,200? If so, you’re among the 94 percent of American workers who pay into Social Security all year long. But there’s a privileged group that’s about to stop paying into Social Security for the rest of 2023: People who make $1,000,000 a year. Their last day of contributing to Social Security is February 28. That’s not even the worst of it. Tucker Carlson, who makes a reported $8 million a year, stopped contributing to Social Security on January 8. Joe Rogan, who reportedly makes $4 million a month, stopped contributing on January 2. Many billionaires receive all of their money in the form of bonuses and stock options. Elon Musk is the highest paid CEO in the world, but because none of it is wage income, he doesn’t pay a single penny into Social Security.
2 comments:
There in lies the economic problem which is demolishing our social security system and a major and a glaring example of inequality. This system of rewarding the more fortunate is perpetuated by those in power who pervert the system for their advantage. Tis time for a a complete actuarial review of this program.
Semper Paratus
Time to end the cap and include unearned income. Would solve the problem once and for all.
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