Profiles in Courage- Stephen Lynch supports raising the Social Security wage cap

What a brave man Stephen Lynch is, exactly what we need in the U.S. Senate.

Basically, a person who earns $1 million a year pays the same social security tax as a individual or couple earning $113,700 a year.  Mr. Lynch has touched the third rail of politics, and supports lifting this cap.

“Lynch said he wants to accelerate the rate at which the wage cap increases, so those earning more money will pay more in taxes, in order to make sure Social Security remains sustainable. “Americans now are living longer than ever, and about one third of all seniors rely on Social Security for most of what they earn in retirement,” Lynch said. “We need to ensure that Social Security will be there for our current retirees, as well as future generations.”.   Lynch went on to say if we do not lift the cap, the social security tax will continue to fall disproportionately on the low and middle class.

IMO, the social security tax is the most regressive tax in the U.S.  We are still waiting on Ed Markey’s position on this crucial issue for most of us (for example, those on government pensions have it made and don’t pay into the system, nor impacted by any changes such as raising the retirement age).

Since the employer pays 6.2% of the tax and the employee pays the other 6.2%, I would not support employers being required to pay over the cap.  I wished Mr. Lynch proposed putting federally elected officials on social security, instead of their fat federal pensions.  But overall, this is a great start to help save social security.  The article suggests (not Lynch) capping it just over $200K.  I say, if the cap is lifted that high, then lets have no cap, get these Hollywood phonies making millions a movie to pay the the tax on very dollar they get.

In other news, Stephen Lynch has a new commercial, did anyone watch it?  At the end, he says “every working family deserves someone working for them”.  I do believe this is a shot at Mr. Markey and his supporters, who believe in the progressive idea that sectors of our economy, such as manufacturing or energy, are obsolete and should be moved overseas or south of the boarder or just choked off.

Let’s all go to Washington together, and vote for Stephen Lynch.

http://www.masslive.com/politics/index.ssf/2013/03/democratic_senate_candidate_st.html

http://www.stephenflynch.com/multimedia