Allowing present and future generations to the opportunity of a dignified retirement through Social Security is vital for our values as a people and our economy. Social Security taxes are at this time regressive. As people or institutions who earn more than $118,500 do not need to pay Social Security taxes on the excess income. This is unfair and undermines the long term solubility of the Social Security Trust Fund. We have the ability to raise additional revenue to close the gap in funding by eliminating this cap, making rich people pay their fair share in taxes without raising taxes on everyone else. We do not need to, and must not choose between taking care of the present generation of elderly at the expense of younger generations or the other way around.
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