Martin O'Malley
Related: About this forumO’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 OMalley says in position paper.
Minimum benefit should be raised to 125% of poverty level for Americans who worked 30 yrs: OMalley
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
WDIM
(1,662 posts)Raine1967
(11,607 posts)What you propose is a pretty simplistic idea, but fist it is important to distinguish that these are separate programs.
One more thing: the idea of expanding them is a great idea, but it is important to understand the idea of path dependance. Here's a pretty god explanation about it regarding the topic. http://www.fourfreedomsblog.com/Blog.php?Act=ViewBlogPost&BlogID=2622
Nice to meet you WDIM.
ladjf
(17,320 posts)Dem. candidates that want to help America solve some important problems.