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View Diary: Why Now is the Time to End the Social Security Tax Loophole (87 comments)

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  •  Simple solution: (0+ / 0-)

    Drop the cap for Social Security (from approximately $113,700) and raise the ceiling for the maximum Social Security monthly benefit from $2513 (at full retirement age) to $4167 (approx. median income) (prorated, relative to years of increased payment with the new ceiling)--with a third “bend point” in the formula for Average Indexed Monthly Earning (currently 90% >$0, 32% >$791, 15% >4768) at something like 7% >$approx 6500.  

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