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Sanders Wants to Increase Taxes to Bolster Social Security
Sen. Bernie Sanders (I-Vt.) has introduced legislation to bolster Social Security by increasing taxes on higher earners. The Social Security Expansion Act would subject all income over $250,000 to the payroll tax. The tax is currently capped at $118,500. It would also subject unearned household income above $250,000 to a 6.2 percent tax….Sanders estimates his legislation would be able to extend Social Security through 2060. It would also increase Social Security benefits for most beneficiaries by $65 per month, increase cost-of-living adjustments for recipients and includes a minimum Social Security benefit. Read More…
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