Sometimes you have to move beyond issue papers, fact sheets and dry reports to make an impact. So, here’s a rap to scrap the cap, courtesy of Social Security Works Washington and the Economic Opportunity Institute (EOI).
If Congress cuts Social Security—as many on the so-called budget deficit Super Committee want to—and doesn’t act to ensure that the wealthy pay their fair share, as these rappin’ grandparents rhyme:
Only safety net is our next of kin
Look out son, cause we’re movin’ in.
The cap in the rap, of course, is the Social Security payroll tax.
Everyone pays Social Security taxes only on the first $106,800 they earn, which means most people pay Social Security taxes on their whole paycheck. But after $106,800, there are no contributions to Social Security, so a whole lot of wealthy people don’t pay a dime in Social Security taxes on most of what they make.
Social Security could pay full benefits forever if millionaires simply paid the same Social Security tax rate as most other people do. So, click here to sign a petition to Congress to scrap the cap and here for lyrics and credits for this outstanding video.
H/T to Kathy Cummings, in communications at the Washington State Labor Council (WSLC), for turning us on to the Scrap the Cap rap.