Social Security vs. CEO Greed: Why Billionaire Bonuses Over Human Dignity Makes No Sense
A Nation of Contradictions
In America, it’s considered normal for CEOs to receive $100 million bonuses while millions of hardworking people live paycheck to paycheck. This grotesque gap is accepted as just part of our economy. Meanwhile, we hesitate to provide financial help to an elderly widow in Nebraska raising three children after her husband died due to war-related trauma.
I know this firsthand. My father died not long after coming back from Vietnam. My mother, with limited support and no husband to share the burden, managed to raise me while juggling multiple jobs. Without Social Security, we wouldn’t have survived. This issue isn’t just an abstract debate for me—it’s personal. How did we reach a point where we prioritize billion-dollar bonuses over basic human dignity? It’s a moral and economic problem that shows the contradictions in our society’s values.
The Stark Reality of Income Inequality in America
Skyrocketing CEO Pay
To understand the inequality, look at this: In 2022, the ratio of CEO pay to the average worker’s salary was 344-to-1, according to the Economic Policy Institute (EPI). In 1965, that ratio was just 21-to-1. CEOs today make more in one week than many workers earn in a lifetime. For example:
- In 2022, Amazon CEO Andy Jassy earned $212 million while many Amazon warehouse workers struggled to pay for housing and healthcare.
- In 2021, Elon Musk received $23.5 billion in stock options and bonuses from Tesla.
- In 2023, Goldman Sachs CEO David Solomon was awarded a $35 million bonus, even as economic instability hit working families.
Yet, the same people defending these payouts argue that Social Security—a lifeline for millions—is “unsustainable”. Enough of the gross gaslighting.
Working Families Struggle to Survive
While CEOs collect these enormous bonuses, everyday Americans barely get by. According to the Census Bureau, over 12% of seniors live below the poverty line. Without Social Security, that number would jump to over 40%.
Women are hit the hardest. Because of wage gaps and caregiving duties, they receive 25% less in Social Security benefits than men, says the National Women’s Law Center.
In states like Nebraska, elderly women rely on Social Security as their only source of income. My mother was one of those women. After losing my father, she depended on those checks to make sure I was fed and clothed. So why do we accept billion-dollar payouts for CEOs while millions have to choose between paying for medication or buying food?
Historical Context: How We Got Here
The Rise of Unchecked Capitalism
Since the 1980s, deregulation and trickle-down economics have made the rich even richer. Between 1979 and 2020, productivity grew by 61%, but typical worker pay rose only 17%. The rest of the wealth? It went to the top 1%.
Social Security: A Lifeline Since 1935
In 1935, President Franklin D. Roosevelt created Social Security to protect people from poverty caused by old age, disability, or the loss of a family breadwinner. This program was a promise of dignity and security for all Americans, no matter how the economy treated the wealthy.
Today, nearly 90% of seniors receive Social Security benefits, according to the Social Security Administration (SSA). The program keeps over 21 million people out of poverty each year and provides more than half of the income for two-thirds of retirees.
The Hypocrisy of Choosing Corporate Wealth Over Human Dignity
The “Unsustainability” Myth
Critics love to say Social Security is going bankrupt. This isn’t true. The SSA says that even without changes, Social Security will still pay 78% of benefits after 2034. We could easily fix this by raising the payroll tax cap on incomes over $160,200.
But instead, some lawmakers suggest cutting benefits while ignoring that the richest 0.1% own 20% of America’s wealth, according to the EPI.
Solutions: Restoring Balance and Humanity
- Raise the Payroll Tax Cap – Right now, Social Security taxes apply only to the first $160,200 of earnings. If we raised this cap to cover incomes over $400,000, we could secure Social Security for decades without hurting middle-class workers.
- Implement a Wealth Tax – A small 1% tax on wealth over $50 million could raise hundreds of billions to support Social Security and other programs (Institute on Taxation and Economic Policy).
- Close Corporate Tax Loopholes – Some corporations, like Amazon and Nike, have paid $0 in federal taxes in certain years. Closing these loopholes would fund important programs without raising taxes on average Americans.
Conclusion: Prioritize People Over Profit
Social Security isn’t just a program; it represents our values. Are we okay with a system that gives CEOs huge bonuses while elderly, disabled, and struggling families suffer? My mother made sacrifices to ensure I had a future after my father’s death. She deserved dignity and security—not fear and uncertainty.
We need policies that support people over profit. Let’s honor the contributions of every worker, not just the wealthiest few.
Reflective Questions
- Why do we allow extreme wealth for a few while millions struggle?
- How can we change our policies to ensure prosperity and dignity for all Americans?
