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O’Malley: Expand Social Security With Tax on High Earners.Bloomberg
Americans should pay 6.2% Social Security tax on earnings above $250k to pay for expanding benefits to all retirees “in progressive manner,” Democratic presidential candidate Martin O’Malley says in position paper.
Minimum benefit should be raised to 125% of poverty level for Americans who worked 30 yrs: O’Malley
NOTE: Under current law, workers pay 6.2% Social Security tax up to cap of $118,500
http://www.bloomberg.com/politics/articles/2015-08-21/o-malley-expand-social-security-with-tax-on-high-earners
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