On Friday, Sen. Bernie Sanders (I-Vt.) and Rep. Peter DeFazio (D-Ore.) introduced a bill to make Social Security solvent for generations while also expanding benefits.
The bill would lift the payroll tax cap on highest earners and extend the life of the program through 2078. Currently, Social Security is funded through a 6.2% payroll tax that only applies to the first $127,200 a person earns in a year. The Sanders plan is similar to one he proposed during his presidential campaign and would lift the cap on all income above $250,000.
The D's nominated the wrong person.
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