When Congress put a cap on Social Security contributions in 1983, they didn’t anticipate 40 years of rising inequality.
that the idea has widespread support among the public, including 76 percent of all voters and 65 percent of Republican voters.
Republican politicians are focused on protecting their wealthy donors, who are paying less into Social Security than ever. The Economic Policy Institute recentlyas inequality increases, a record share of all earnings are above the $160,200 cap on Social Security contributions. EPI estimates that income falling above the cap due to rising inequality has cost the Social Security Trust Fund $1.4 trillion. That’s a massive windfall for the wealthy — and a massive loss for our Social Security system and the millions of Americans who rely on it.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Social Security update: Direct payment worth up to $4,555 to be sent out in 12 daysThe first round of the Social Security Administration's retirement payments for March, worth up to $4,555, will be sent to retirees in just 12 days.
Baca lebih lajut »
Social Security update: First of March's two SSI payments to arrive in five daysThere are five days until recipients receive the first of two Supplemental Security Income payments that will arrive in March, according to the Social Security Administration's schedule.
Baca lebih lajut »
NY, NJ Police increase security after 'Day of Hate' social media postsLaw enforcement and Jewish organizations across the nation are on high alert after a neo-Nazi group proclaimed Saturday to be a 'National Day of Hate.'
Baca lebih lajut »
Social Security update: First of double direct payments worth $914 to arrive in four daysIn only four days, recipients of Supplemental Security Income will receive the first of March's two payments, according to the Social Security Administration's schedule.
Baca lebih lajut »
Inequality Causing Massive Loss for Our Social Security SystemWhen Congress set the cap on Social Security contributions in 1983, they didn’t anticipate forty years of rising inequality. And it’s cost us — a lot.
Baca lebih lajut »
Social Security & You: If you mess up, don't blame the governmentSometimes people will write to me complaining that the government, specifically the Social Security Administration, has messed them up and cheated them out of benefits they might have been due. But many times, the fault (to trivialize a famous line…
Baca lebih lajut »