Millionaires—those on a payroll, anyway—were done paying their Social Security taxes on February 16, 2017. And Senator Bernie Sanders (I-Vt.) and Pete DeFazio (D-Ore.) chose the same day to introduce a bill that would expand Social Security benefits by lifting the cap on earnings subject to payroll taxes.

The Huffington Post reported that as the rest of the country slogged on under payroll tax deductions for Social Security benefits, Americans who earned wages of $1 million or more had already finished paying their Social Security obligations for the year.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.