General Discussion

tularetom

(23,664 posts)

20. I retired at the end of 2000 and I was always just a couple of months over the cap

Mon Dec 7, 2015, 07:21 PM

Dec 2015

I remember at the time being pissed off that every time I got a raise, they raised the cap and I stayed more or less static vis a vis the cap.

I'm OK, but I have at least one relative who is struggling to make it on her SS allowance, so now I feel bad that I bitched about the SS cap. I would support its elimination altogether.

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Do you support "scrap the cap" if you make over $118,500, the current cap? [View all] randys1 Dec 2015 OP

Are there any DUers who make over $118,500, the current cap? KamaAina Dec 2015 #1

Has to be, more than you think if the demos here are accurate. randys1 Dec 2015 #2

yep and scrap the cap FreakinDJ Dec 2015 #3

Yes and yes Kber Dec 2015 #36

I'd be for it as long as the retirement formula goes up to reflect it Yupster Dec 2015 #44

Yes, and yes. n/t whathehell Dec 2015 #54

yes I do, and yes, lets eliminate the cap lapfog_1 Dec 2015 #59

I do as well, Throckmorton Dec 2015 #65

Wow, there are a lot of affluent DUers! KamaAina Dec 2015 #66

Yes and yes. Xithras Dec 2015 #75

Yes. There are several. I'm close; but, not quite there ... 1StrongBlackMan Dec 2015 #76

YES and when was the last time it was raised? TexasProgresive Dec 2015 #4

Goes up a little every year. Or almost every year randys1 Dec 2015 #6

Yeah, I see that TexasProgresive Dec 2015 #45

Yes. It's long overdue. Vinca Dec 2015 #5

How could anyone oppose this if they knew it would fix Social Security? randys1 Dec 2015 #7

I know and in Congress it would be a quick fix if they didn't hate grandma so much. Vinca Dec 2015 #14

Yes, in the 90's Clinton wanted 140K! Scrap the cap! ViseGrip Dec 2015 #8

Yes HassleCat Dec 2015 #9

Love your answer. randys1 Dec 2015 #12

Yes! RKP5637 Dec 2015 #10

Nope. Nye Bevan Dec 2015 #11

That is already done since 1983 when Reagan started taxing up to 50% of SS benifits, then doc03 Dec 2015 #19

+1. good and proper answer. Black and white questions/answers are usually off the wiggs Dec 2015 #25

Right now lower income workers are subsidized exboyfil Dec 2015 #29

Millions of Americans pay into the fund their entire lives and never draw a dime in retirement. stopbush Dec 2015 #83

What you propose would destroy Social Security. Nye Bevan Dec 2015 #85

Amazing how you know exactly what would happen. stopbush Dec 2015 #88

Well I have been known to be correct in my predictions. Nye Bevan Dec 2015 #90

yes notadmblnd Dec 2015 #13

NO! Not unless the SS payments when they retire is higher. SS is not a handout, you pay for it!! nt Logical Dec 2015 #15

Yes how much $$ you get when you retire is based on your lifetime earnings notadmblnd Dec 2015 #22

I agree, as long as you increase the benefits also. nt Logical Dec 2015 #27

Thats the curent system, I don't forsee it being changed if the cap is raised. notadmblnd Dec 2015 #28

You do realize then... philosslayer Dec 2015 #49

The formula notadmblnd Dec 2015 #60

Here is the method of calculating it exboyfil Dec 2015 #31

Yeah, it seems to me that it should go up pipoman Dec 2015 #38

Yes I do. Also the threshold for taxing SS doc03 Dec 2015 #16

That must just be for you. notadmblnd Dec 2015 #26

It is not an early withdrawal I am 67 and I am not working. My SS income and pension comes to over doc03 Dec 2015 #33

Yes, scrap the cap. JustABozoOnThisBus Dec 2015 #17

When I used to make >$120,000... ljm2002 Dec 2015 #18

I retired at the end of 2000 and I was always just a couple of months over the cap tularetom Dec 2015 #20

and quit cheating people who paid in and get only 10% of what they should get nt msongs Dec 2015 #21

What? n/t SickOfTheOnePct Dec 2015 #23

No taught_me_patience Dec 2015 #24

Actually, wealthy people already get plenty of benefits TexasBushwhacker Dec 2015 #39

that's like saying hill2016 Dec 2015 #50

Actually, if they donate stock or art, they get a deduction TexasBushwhacker Dec 2015 #58

There is benefit pipoman Dec 2015 #41

Absolutely no benefit? jberryhill Dec 2015 #52

Knew there was a reason I liked you randys1 Dec 2015 #69

+1 n/t FSogol Dec 2015 #74

Yes, get rid of the cap! VMA131Marine Dec 2015 #30

Yes abelenkpe Dec 2015 #32

Of course scrap it Abouttime Dec 2015 #34

The majority of capital gains is inflation Travis_0004 Dec 2015 #35

Functionally, no that isn't correct. Asset price increases have far outstripped inflation. Zynx Dec 2015 #48

Scrap the taxation level and cap the benefit level at the $118K level... JCMach1 Dec 2015 #37

Fuck yes REP Dec 2015 #40

Sure whatthehey Dec 2015 #42

absolutely i do drray23 Dec 2015 #43

Yes, but..... rufus dog Dec 2015 #46

Yes. Frustratedlady Dec 2015 #47

The cap should be at the salary of the President........ thelordofhell Dec 2015 #51

I'd probably say "raise" the cap. zipplewrath Dec 2015 #53

There were two years in the 90's I made over the cap. kimbutgar Dec 2015 #55

I support raising the cap, but... BlueCheese Dec 2015 #56

The employer contribution should increase... Blanks Dec 2015 #57

I agree that the change should come from the employer's side of the equation. Gormy Cuss Dec 2015 #71

Yes. SS is a critically important program. n2doc Dec 2015 #61

Yes. nt Adrahil Dec 2015 #62

Do you support forcing teachers to pay into SS? GummyBearz Dec 2015 #63

Why did you answer a question with a question? If you dont support lifting the cap randys1 Dec 2015 #70

I don't care if the cap is lifted. It wont affect me. GummyBearz Dec 2015 #72

Teachers are overworked and underpaid. If they dont collect soc sec why would randys1 Dec 2015 #77

Yes that is how generally it would go GummyBearz Dec 2015 #82

Fantastic news then, teachers need all the pension money they can get. randys1 Dec 2015 #86

OBVIOUSLY!!! librechik Dec 2015 #64

Yes! Sometimes the bonus takes us over the imit, but I'd rather see Social Security sound and hedgehog Dec 2015 #67

Yes. n/t DefenseLawyer Dec 2015 #68

If I did, hell yes. I know too many people who depend on SSI and SSDI haele Dec 2015 #73

Depends on how it's implemented Major Nikon Dec 2015 #78

Of course not, either we want gramma eating dog food or we dont. Make up your mind. randys1 Dec 2015 #80

I'm not much for dichotomous thinking Major Nikon Dec 2015 #84

What percentage of DU members make over $118,500? Ivan Kaputski Dec 2015 #79

I dont know, I also dont know what the actual numbers are on this, if you did scrap randys1 Dec 2015 #81

I made over the cap limit for about 5 years back in the mid-late 90s. Yes. Would vote to scrap it magical thyme Dec 2015 #87

I now live in Germany, but if I lived in the USA still, I would support it DFW Dec 2015 #89

Yes. phylny Dec 2015 #91