Congress: Remove the current Social Security (FICA) income cap.
FICA (Federal Insurance Contributions Act ) better known as the Social Security Tax.
Presently, the Social Security (FICA) employee tax is on the first $113,700 of a worker's wages. Below shows the percentage of income that is taxable for different incomes
$ 30,000 - 100%
$ 50,000 - 100%
$110,000 - 100%
$200,000 - 57%
$400,000 - 28%
$800,000 - 14%
So, the more you earn, the less you pay! And why is this? The main reason is, MOST PEOPLE AREN'T AWARE THIS IS HAPPENING! By definition, FICA is a 'regressive tax'; that is to say, it hits the middle class and poor harder than the rich and ultra rich. In effect, the middle class and poor become 'second class' citizens while the rich retain a privileged status. And this is 'the land of the free and home of the brave'?
Our government is 'of the people, by the people and for the people'. That being the case, WE THE PEOPLE can correct this situation. If you are comfortable being a second class citizen then don't sign this petition. But if being a second class citizen in your own country is distasteful to you, then DO SIGN. Get family, friends, aquaintences, co-workers, everyone and anyone to join you. If the people of this great country don't demand this situation be corrected, I can readily assure you, it won't.
Remove the current Social Security (FICA) income cap.
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