U.S. Sen. Bernie Sanders has introduced legislation to strengthen and preserve Social Security.
To keep Social Security strong for another 75 years, Sanders' legislation would apply the same payroll tax already paid by more than nine out of 10 Americans to those with incomes over $250,000 a year.
Social Security is the most successful government program in our nation's history. It has not contributed one dime to the federal deficit. It has a $2.5 trillion surplus, and it can pay out every nickel owed to every eligible American until 2038, according to a recent report from the non-partisan Congressional Budget Office.
Under Sanders' legislation, Social Security benefits would be untouched. The system would be fully funded by making the wealthiest Americans pay the same payroll tax already assessed on those with incomes up to $106,800 a year. The idea follows through on a proposal that President Obama made when he was running for office in 2008.
Sen. Bernie Sanders
Sen. Claire McCaskill
Sen. Barbara Boxer
Sen. Daniel Akaka
Sen. Sheldon Whitehouse
Sen. Richard Blumenthal