Save Social Security: A chance to get involved – only a telephone required.
From Bernie Sanders, the Real Progressive.
As you know, huge decisions are being made by this so-called “Super Committee” in Washington decisions that will affect our country for decades to come.
Last week, I asked you to join me as a citizen cosponsor of the Keeping Our Social Security Promises Act and the response has been tremendous. So far, over 60,000 Americans have supported scrapping the payroll tax cap on all income over $250,000 and making millionaires and billionaires pay their fair share into Social Security.
Now, I’d like you to join me in an interactive discussion on Social Security, jobs and the deficit committee. Deficit reduction is important, but it is not the most important issue we face. We are in the midst of the worst economic downturn since the Great Depression and if the middle-class is to be saved we need to create millions of good paying jobs in the very near future and ensure the long-term solvency of Social Security.
The Keeping Our Social Security Promises Act is an important bill. For 76 years, through good times and bad, Social Security has paid out every benefit owed to every eligible American. The most effective way to strengthen Social Security for the next 76 years is to scrap the payroll tax cap for those earning $250,000 a year or more.
That’s what this bill does it lifts the payroll tax cap so that millionaires and billionaires pay their fair share into Social Security. This will ensure the long-term solvency of Social Security without cutting benefits, raising the retirement age or raising taxes on the middle class.
Right now, someone earning $106,800 pays the same amount of money into Social Security as billionaires like Bill Gates. Why? Because all income above that amount is exempt from the Social Security payroll tax. As a result, 94% of Americans pay Social Security tax on all of their income, but the wealthiest 6% do not.
It doesn’t make sense to me, and it doesn’t make sense to the vast majority of Americans. But big corporations and the super rich would rather spread lies about Social Securitys sustainability and convert it into a private account system which will enable Wall Street to make hundreds of billions in profits.
We need a grassroots campaign to beat them back, pass the Keeping Our Social Security Promises Act into law and move aggressively to address the major crisis of our time massive unemployment and the decline of our middle class. Join me Thursday to learn how you can get more involved.
Thank you for all your hard work, and I hope to hear from you on Thursday.
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