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For decades, Wall Street billionaires have plotted to cut our earned Social Security benefits. Now, they have a new scheme: the so-called “six-figure limit.” This would cap Social Security benefits at $50,000 a person or $100,000 per couple. And there’s a big catch: These numbers won’t keep up with inflation. So while this cap would currently impact a tiny number of people, it would hit more beneficiaries every single year.

Ultimately, the Wall Street billionaires would achieve their real goal: transforming Social Security into a flat, poverty-level benefit.

Billionaires and their allies are trying to build support for this terrible plan. The editorial board of the Washington Post, owned by billionaire Jeff Bezos, enthusiastically endorsed it. Supporters of the plan claim it’s about generational fairness and taking on the “greedy geezers” — but they never mention that it’s younger generations who would suffer the biggest benefit cuts.

Social Security is an earned benefit that workers have paid into throughout their careers. Rather than cutting benefits, we should expand them to reflect the reality that seniors face rising costs for healthcare, housing, and basic necessities. Expanding Social Security would lift millions of older Americans out of poverty and provide economic security for all.

Billionaires claim this is about “fiscal responsibility” and “generational fairness” — but this is a manufactured crisis designed to undermine one of the most popular programs in American history. The same billionaires who avoid paying their fair share in taxes want to balance the budget on the backs of working families. They protect their own wealth while demanding seniors accept less.

Tell Congress: Tax the rich, don’t cut Social Security!

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