Democrats’ mandate: Make billionaires pay their fair share into Social Security
In a Hill opinion column, Social Security Works president Nancy Altman argues Democrats' 2026 midterm victory — won on pledges to "scrap the cap" so millionaires and billionaires pay Social Security taxes beyond their first $184,500 in earnings — mandates action. She urges Democrats to pass the Bernie Sanders-sponsored Social Security Expansion Act, which would raise benefits by $200 a month and be funded by taxing the wealthy's unearned investment income, warning that inaction means a projected over 20 percent benefit cut in 2032 and that any "balanced package" cutting benefits would betray voters.
