Most Active Stories
- Scenic Rail Planned for Northern Berkshires, But Work Remains
- Prof. Nancy Prideaux, University of Texas Austin – Logistics of Black Friday
- Two NYS Legislators Look To Regulate E-Cigarettes
- Mayor-Elect, City Leaders Call For Verizon FIOS In Albany
- MTA Police Identify Passengers Who Died In Metro-North Train Derailment
Thu March 7, 2013
Sanders Intros Social Security Measure
Vermont Senator Bernie Sanders has introduced legislation that would make the wealthiest Americans pay the same Social Security payroll tax as nearly everyone else.
Under the legislation, co-sponsored by Vermont Senator Patrick Leahy and Senate Majority Leader Harry Reid, individuals with annual incomes greater than 250-thousand dollars would pay the same 6-point-2 percent payroll tax that is assessed on those earning up to $113, 700 a year.
Sanders says the move would enhance Social Security without having to change benefits or raise the retirement age.
Senator Sanders' office cites data from the Social Security Administration saying the revision in the payroll tax would yield about 85-billion dollars a year for the program.
New York News