Thursday, October 16, 2008

The Back Door Way to Remove the Soc Sec "Cap"

Sort of like the AMT where the threashold for higher taxes gets lower and lower each year, the salary cap on social security keeps going higher and higher each year, faster than the rate of inflation.

The Social Security Administration (SSA) announced on Thursday, October 16, 2008, that the 2009 social security wage base will be $106,800, an increase of $4,800 from the 2008 wage base of $102,000.

So each year a higher and higher percentage of people pay in 100% of their wages into fund - and those of us 40 and younger will never see a dime.

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