Bernie Tells the Truth About Social Security

[Stardust]

5. Can someone help me understand this part about Bernie's proposal:

http://www.sanders.senate.gov/newsroom/press-releases/sanders-calls-on-congress-to-strengthen-and-expand-social-security

Under current law, the amount of income subject to the payroll tax is capped at $118,500. That means someone making millions of dollars a year pays the same amount in payroll taxes as some making $118,500 a year. The legislation would subject all income over $250,000 to the payroll tax. Doing so would impact only the top 1.5 percent of wage earners, the Center for Economic Policy Research has estimated.

OK, if the legislation would subject all income over $250k to the payroll tax, does that mean that income under $250k will not be subject to the payroll tax? I've read it and reread it but I don't understand the wording. If all income is subject up to the $250k cap, to me, the above excerpt is a misstatement, imo.