My brother and I, both in our 80's, are just two among millions of seniors who greatly rely on social security income for survival in a fast-paced and inflation-ridden world. Considering this, we strongly advocate to raise the Social Security Income Cap.

Currently, Social Security is funded by a 12.4% payroll tax on wages up to $142,800, with half paid by workers and half by employers. Although this might sound sufficient, a significant demographic shift in the U.S. challenges the system’s solvency. As highlighted by the Social Security Administration's report, there were 2.8 workers for every Social Security recipient in 2017, compared to 3.3 in 2007 (Social Security Administration's Annual Statistical Supplement, 2020).

Therefore, raising the cap of earnings subject to the payroll tax is a potential step towards safeguarding Social Security. If earnings above $142,800 were taxed at the same rate, it would significantly improve the solvency of the trust fund, contributing towards the welfare of millions of seniors.

Let us stand together for the common cause. Let us urge our policymakers to take requisite measures to increase the Social Security Income cap. Ensuring long-term stability of the Social Security system is imperative, not just for my brother and me, but for all seniors. We urge you, for the sake of fairness, equity, and the well-being of many, to sign this petition.