Social Security and Medicare

• Social Security and Survivors Benefits will be cut by 25% by 2033 unless quick action is taken.

• The most immediate way to avoid this looming cut is to follow the bipartisan recommendation of Bernie Sanders and Mitt Romney and impose SSA/FICA payroll taxes on income that exceeds the current SSA/FICA taxable limit of $174,000/yr.

• Only the top 8% of Americans have an annual salary that exceeds $174,000/yr.

• Medicare is facing an 11% cut in 2034. 

• This Medicare shortfall can be solved by closing the tax loop holes that allow the affluent to pay virtually no Medicare payroll taxes whatsoever.