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elleng

(140,178 posts)
2. Included, of course.
Sat Aug 22, 2015, 02:02 PM
Aug 2015

In a white paper shared with the Guardian, the former Maryland governor calls for expanding social security benefits and raising the payroll tax used to fund the government retirement program so that all income above $250,000 is taxable. Currently the threshold on earnings subject to the social security tax is set at $118,500. The O’Malley campaign would create a “doughnut hole”, exempting income over $118,500 and below $250,000 from taxation. The overall goal of O’Malley’s plan is to “increase the number of Americans with adequate retirement savings by 50% within two terms in office”.

http://www.theguardian.com/us-news/2015/aug/21/martin-omalley-to-campaign-on-expansion-of-social-security

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