The Goldendale Sentinel - Headlines & History since 1879

By Norm Luther
Spokane 

Social Security isn't that secure

 


To the Editor:

It seems little known that one of our greatest inequities favoring the rich involves, ironically, a government program originally established especially for the working poor. Everybody pays into the Social Security fund a regressive flat rate 6.2 percent of their yearly gross wages and, more importantly, only up to $118,500 of those wages. Thus billionaires pay no more into the fund than anyone earning $118,500 yearly, only twice anyone earning $59,250, only four times anyone earning $29,625, and so on.

For fairness, we should completely remove the $118,500 cap on yearly earnings subject to Social Security tax, thus imposing the same 6.2 percent rate on everyone’s total e...



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