O’Malley: Expand Social Security With Tax on High Earners.Bloomberg

[elleng]

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

[WDIM]

1. Remove the cap and have medicare for all. nt.

[Raine1967]

3. Medicare and Social Security are two different things.

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]

2. I'm hearing good ideas from O'Malley. We might have two

Dem. candidates that want to help America solve some important problems.

[FSogol]

4. K&R. n/t