• Petitioned North Carolina Governor

This petition was delivered to:

North Carolina Governor
President of the United States
North Carolina State Senate
North Carolina State House
U.S. Senate
U.S. House of Representatives

Eliminate the "Cap" on Social Security contributions !

    1. Petition by

      Constance Engle

      Hendersonville, NC

There is no need to cut Social Security or raise the benefit age, or have a Payroll Tax reduction or holiday. We urge you to totally eliminate any Cap on income that contributes to the Social Security fund. At present, no income over $108,600 is required to contribute to the fund. I propose that we require contributions on ALL earnings -- EVERY penny of EVERY dollar earned by EVERY person. Doing so would fully address the projected shortfall of Social Security for 75 years and provide a few extra dollars to improve benefits. Millionaires and billionaires should not pay into Social Security on only $106,800, a fraction of their income!! Everyone should contribute based on his or her Total Income.

The Cap on income should be lifted on the Employee's Social Security contribution but not on the Employer's. For the Employee, the 6.2% rate on income over the cap might be reduced to as low as 1% or a graduated rate according to income, such as 1% on income up to $500,000, 2% on income between half a million and $1 million, 3% on $1 million+, etc.

This is not a new idea -- why is it rarely mentioned? Let's get this on the table!! To accomplish this, we need to go “exponential”!!  Please email your friends asking them to sign and ask their friends to do the same.  I haven’t found anyone that disagrees with this. Of course I don’t know any billionaires…

 

Recent signatures

    News

    1. Reached 100 signatures

    Supporters

    Reasons for signing

    • Julie Gordon CEDAR RAPIDS, IA
      • over 1 year ago

      WHY IS IT THAT THOSE EARNING MORE THAN $108,600 AREN'T REQUIRED TO CONTRIBUTE TO SOCIAL SECURITY? IS THAT FAIR? OR IS IT JUST ANOTHER LOOP HOLE FOR THE ELITE! SICK! THIS COUNTRY'S REPRESENTATIVES ARE SO UNFAIR! IT'S JUST SICKENING!

      REPORT THIS COMMENT:
    • Richard Lovelace RALEIGH, NC
      • over 1 year ago

      This is a common sense simple solution and would not negatively effect anyone's standard of living.

      REPORT THIS COMMENT:
    • Myrle Krantz VETTWEISS, GERMANY
      • over 1 year ago

      I want Social Security to be solvent for my parents and I believe in progressive taxation.

      REPORT THIS COMMENT:
    • George Franklin STEPHENVILLE, TX
      • over 1 year ago

      Let us be fair!

      REPORT THIS COMMENT:
    • Kathy Frederick HERMITAGE, PA
      • over 1 year ago

      With student loan debt and a mortgage that will not be paid before retirement, I will need more in SS to survive. Help to keep me off the street in retirement!

      REPORT THIS COMMENT:

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