Social Security’s 80th birthday is coming up on Friday. It bothers me when people think that Social Security is a handout or a giveaway. The truth is, we pay for our benefits every day we work.
These same people attack Social Security by saying the only way to keep the program solvent is to cut benefits and raise the retirement age. We can’t afford to be fooled. To shore up the program’s finances, the answer is simple. Congress should scrap the payroll tax cap and require wealthy beneficiaries to pay their fair share. Right now, billionaires pay the same amount in payroll taxes as someone making $118,500. That’s just not right.
With pensions under threat and rising inequality making it harder and harder to save for retirement, Social Security is more important than ever. That’s why Congress should act to scrap the cap and expand Social Security benefits for America’s workers. Several bills already circulating in Congress, including the Social Security Expansion Act and the Protecting and Preserving Social Security Act, would do just that. Now is the time for us to strengthen Social Security, not cut it.
Teresa Thomason, Boise