Elizabeth Warren unveils Social Security plan to raise benefits by $200 via taxes on high earners


Elizabeth Warren proposed a sweeping new plan to increase Social Security benefits by $200 per month and pay for it by raising taxes on high-income earners.

The latest proposal to redistribute wealth, unveiled Thursday morning, will be sure to catch the eye of Democrats hours ahead of the presidential debate.

Her plan appears to be targeted at older voters who benefit most from Social Security. The earliest age one can start receiving Social Security benefits is 62. It would raise benefits for approximately 64 million people and would cost more than $150 billion in its first year.

Additionally, the Massachusetts senator also proposed new rules that would give increased benefits to low-income families, women, minorities, government workers, and the disabled.

Warren would pay for it by imposing new taxes on what she calls the richest 2% of Americans, those earning more than $250,000 a year. Warren has already proposed a raft of new taxes, including a major new wealth tax.

More from The Examiner