Well I’ll tell you… I’m celebrating.
Today is the day that 1% percent stop paying into Social Security while the rest of us contribute all year long toward our retirement. That’s right.
American workers that earn more than $110,000 are paying a much lower Social Security tax than the rest of us. According to the Wall Street Journal, the top 1% of Americans (or people like Mitt Romney and Donald Trump) will have finished paying into Social Security by mid-March while the rest of us continue to pay 6.2% of our paychecks into the fund all year long, year in and year out.
So I’m putting on my Romney mask so I can imagine what it would be like to get a pay raise on top of a half-a-million-dollar-plus salary.
As a public health worker, it’s hard to imagine what it would be like to own two Cadillacs let alone earn Mitt Romney’s salary.
For most of us in the 99 percent, the reality of retirement means figuring out how to live on less than $1,200 per month. That’s what most low wage workers receive from Social Security. We must strengthen Social Security so that it will be around for future generations of Americans and so those Americans with no other source of income can still survive on Social Security alone. All of this could be achieved by eliminating the cap on Social Security taxes so that everyone pays the same percentage of their pay into the Social Security Trust Fund.
If I were a member of the 1 percent, I would do my part so that all Americans have an opportunity to retire with dignity. And then, we would all have a reason to celebrate.
SEIU 503 OHA Public Health Local 219