To: President Obama
End the Social Security Cap
Eliminate the Social Security Payroll Tax Cap so that Everyone Pays the Same Rate
Why is this important?
People only pay in to social security on the first $117,000. If they earn $5 million, they only pay into the fund on the first $117,000.
Social security saves millions from dire poverty.
Social security creates public spirit, that joy and thankfulness that can make life exuberant and interdependent. Generations could trust and respect one another with sorrow "more distant than a star" (Donovan). The cap is an anomaly that makes no sense in our day of near zero interests and outsourced manufacturing.