Hartmann Report - Right now, people earning over $176,100 pay absolutely nothing into Social Security once that amount has been covered. To make Social Security solvent for the next 75 years, and even give a small raise to everybody on it, the simple fix is for the rich to just start paying Social Security income on all of their income, rather than only the first $176,100.
The entire solvency and health of Social Security could be cured permanently, in other words, if we simply did away with the “billionaire loophole” in the Social Security tax.
But the idea of having to pay a tax on all their income so that middle class and low income people can retire comfortably fills America’s billionaires with dread and disgust. So much so that not one single Republican publicly supports the idea.
1 comment:
The death of our great social security program is assured if the "billionare loop[hole" is not obviated. Wake Up America. We have a marotity and must use the force of our majorityto bring equity as our tool!
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