Social Security Must Be Fixed...Fairly

Increasing Social Security Taxes Will Burden American Families

No question, the Social Security system is in danger and needs to be reformed. However, the goal must be to improve retirement security for future generations, not set back hardworking Americans with one of the largest tax increases in history.

• A plan to add a 6% Social Security surtax on wages above the current earning cap would push most dual-income households in the United States to a combined tax rate of over 40%.
• Raising the Social Security taxable earning cap from $90,000 to $160,000 will unfairly affect families who choose to have one "stay-at-home" spouse. For example, for a dual-income family where both spouses earn $80,000 (a combined income of $160,000), lifting the cap will not affect the amount they pay in taxes. Conversely, a single income family making the same amount will experience a Social Security tax increase of 78%. (Washington Post, 4/1/05)

Fix Social Security Now.

©Copyright 2005 Generations Together : privacy policy : unsubscribe

If you have trouble viewing this email, click here.