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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