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The Economic Opportunity Institute and Social Security Works released a new video this week that features two senior citizens rapping "Scrap the Cap," a reference to the easiest and most logical solution to the long-term funding of Social Security. The organizations are quick to point out that talk of a 'crisis' in Social Security is nonsense since the program currently has a $2.6 trillion surplus, and that scrapping the cap on taxable income for Social Security is a good fix for the long-term projections of a funding shortage. Currently, everyone paying into Social Security only pays taxes on the first $106,800 of their income and nothing on any income above that, effectively meaning that wealthier citizens pay no Social Security taxes on most of their income. Eliminating this cap would make the program solvent for a much longer time period.

Anyone who supports "Scrapping the Cap," can take action on the web site related to the video.

The lyrics of the song:

The real old school in the house

Give it up for the geezers

Had our golden years all planned out

Small pension, golf cart and a Florida house

But congress put a hit on Social Security

Mugged us of our dignity despite our maturity

Tax we paid with every check we earned

Time to collect we the ones gettin burned

There’s nothing we can do if we can’t get paid

‘cept eat cat food, and drink haterade

Listen up cuz while we drop some knowledge

We raised our little boy, put him through college

Only safety net is our next of kin

Look out son, cause we’re movin in (what!?)

We’re movin in (what!?)

We’re movin in (what!?)

Pull out the couch cause we’re movin in (what!?)

No arguin (what!?)

No arguin (what!?)

Pull out the couch cause we’re movin in

Name’s Spinal Twist, check my orthopedic kicks

‘cause I stoop farther south than the St. Lunatics.

I’m still getting play and it’s all thanks to Pfizer,

Keepin me stiffer than my Yankees cap visor

My station wagon windows are dark with tint

I subscribe to vibe and I get the large print

They call me Martini got substance abuse

‘cause I’m always playin gin and sippin on juice

Our son wants to know if we can pay the rent,

But without benefits we ain’t got 50 cent,

We don’t pack a nine, we’re just strapped for funds

But we’re still game killers for our bachelor son

[interlude]

Social Security payments are far from erratic

“it’s broke and failin” don’t believe that static

This crisis is a fiction there would be no debate

If we all pitched in at the same tax rate

There’s a cap on how much millionaires pay

Even though we all work like every single day

These are the facts but they’re provin’ thin

So pull out the couch ‘cause we’re movin in

We’re movin in (what!?)

We’re movin in (what!?)

Pull out the couch cause we’re movin in (what!?)

No arguin (what!?)

No arguin (what!?)

Pull out the couch ‘cause we’re movin in

Alright now younginz, you’re our last resort

‘cause sooner or later, we’ll be needin support

If you don’t want roommates just learn this rap

It’s only one line, shout SCRAP THE CAP

Scrap the cap

Scrap the cap

Throw your hands up

Just scrap the cap

Scrap the cap

Scrap the cap

Throw your hands up

Just scrap the cap