Pamela, Next week, the rich will get richer―literally. While most people pay in to Social Security all year long through FICA contributions, anyone making $1 million only pays in on the first $168,600 of wages. That means someone who makes a million in a year stops paying in today―and their paycheck will be 6.2% larger for the rest of the year. The ultra-wealthy, like Elon Musk or Jeff Bezos, stop paying in on January 1. So on a leap year (like this one!) they get 365 days off from paying in to Social Security. Must be nice! But at the same time that the ultra-rich are cashing their extra-large paychecks, they're funding politicians like Speaker Mike Johnson who insist that Social Security cuts are inevitable. He'd rather keep Jeff Bezos' paycheck as fat as possible than make sure Americans can retire in dignity. We say HELL NO. Tell Congress: Scrap the cap and make millionaires pay into Social Security all year long! EXPAND, never cut our earned benefits! Thank you, Mike Phelan Progress America |
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