Do those who earn more than the social security cap

[kittenpants]

receive benefits? Not that I'm one of them, I'm just wondering. It seems like the best solution to solvency is to raise the cap, especially if these people receive benefits in excess of 90K essentially for free.

sorry for my ignorance!

[BagEnd]

1. Yes, but the benefits are capped as well.

and income appproaching the cap doesn't "help" much. If you make half of the cap you get a lot more than half of their benefits.

[Midlodemocrat]

2. What type of benefits do you mean?

Do you mean SS benefits when retired? If so, yes. No matter how much you earn, you would get the maximum SS benefit for the year of retirement with COLA every year thereafter.

[Midlodemocrat]

3. And, I agree with you totally.

Raising the cap and then raising the benefit amount, would be a great first step.

Certain amounts on your IRS return have reduced deductability based on AGI, so it could be skewed that way as well.

[ThomWV]

4. I Believe

I am retired but I don't work at all, no need to. I don't have a lot of income but I have enough.

I believe that there is a reduction in benefit for each dollar earned over a set amount but it is not dollar for dollar, at least not at levels close to the 'cap'.

Sign the Conyers letter.

Thom