• Petitioned The House of Representatives and The Senate

This petition was delivered to:

The United States Congress
The House of Representatives and The Senate

Save the Social Security Trust Fund

    1. Michael  Blum
    2. Petition by

      Michael Blum

      Rock Falls, IL

Currently over Fifty Six Million (56,000,000) people are collecting Social Security Benefits. The Social Security Trust Fund is projected to run out of funds in 2033 and at that time projected tax revenues will not be enough to pay full benefits to all recipients. The current tax used to support the Social Security Trust Fund has an income cap of a little more than One Hundred Ten Thousand Dollars ($110,000) thereby shielding almost all of the top 4%'s income from contributing to the Fund.

Removal of this income cap on this taxation combined with a cap on benefits payable would result in a mass infusion of cash to the Fund and no significant increase in expenditures. 

Recent signatures

    News

    1. Reached 25 signatures

    Supporters

    Reasons for signing

    • catherine turner WALTERBORO, SC
      • almost 2 years ago

      These are benefits I paid into and earned. These are already promised to me.

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    • Cheryl Spata PAHRUMP, NV
      • almost 2 years ago

      The government is now referring to our Social Security checks as a "Federal Benefit Payment." It is not a benefit - it is earned income! Not only did we all contribute to Social Security, but our employers did too. It totaled 15% of our income before taxes. If you averaged $30k per year over your working life, that's close to $180,000 invested into Social Security. If you calculate the future value of your montly investment in Social Security ($375 month, including both you and your employer's contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you would have more than $1.3 million dollars saved. This is your personal investment. Upon retirement, if you took out only 3% per year, you would receive $39,318 per year or $3277 per month. That is almost 3 times more than today's average Social Security benefit of $1230 per month, according to the Social Security Administration. (Google it - it's a fact.) And your retirement would last more than 33 years (until your 98 if you retire at 65)! I can only imagine how much better most average income people could live in retirement if our government had just invested in low-risk-interest-earning accounts. Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They forgot that it was our money they were taking. They did not have a referendum to ask us if we wanted to lend the money to them. And they did not pay any interest on the debt they assumed. And recently, they have told us that the money will not support us for very much longer. And to add insult to injury, their calling it a benefit, as if we never worked for a penny of it. Just because they borrowed the money, does not mean that our investments were a charity Since I paid into Social Security it is MINE and I don't care if they call it "entitlement" because I am "entitled" to it. We have earned our right to Social Security. It was our investment, NOT your bank. I demand our legislators bring some sense into our government. Find a way to keep Social Security solvent. Return the funds you have squandered away.

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    • david strawther SEATTLE, WA
      • about 2 years ago

      I recieve ssa benefits

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    • Lisa Hickey ROCKY FORD, CO
      • about 2 years ago

      I am tired of watching people able to work get social security. Especially when they hardly worked to pay in to the fund,yet are set for life without working. The ones I know feel like they won the lottery. The should spend more on fraud investigators, maybe this will make a dent in the depletion.

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    • Eileen Petersen SOUTH SAN FRANCISCO, CA
      • about 2 years ago

      Removing the current tax cap on income funding Social Security will ensure that even the top 4%'s income will contribute to the Fund. It is only fair that they do. The top 4%ers may not need Social Security income when they retire, but I definitely rely on it and need it to be continued!

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