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View Diary: Oregon senator joins the call for increasing Social Security benefits (130 comments)

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  •  I think the cap (above which you don't pay ANY (5+ / 0-)

    SS) is around 125K??? sheesh, not even that much!

    OK, from the horse's mouth...

    When you have wages or self-employment income that is covered by Social Security, you pay Social Security taxes each year up to a maximum amount that is set by law. That amount has changed frequently over the years.

    For 2013, the maximum amount of taxable earnings was $113,700. In 2014, the maximum amount of taxable earnings is $117,000.

    That's EARNED income, NOT INVESTMENT income.

    That's how a lot of "rich" pay so little taxes -- most of their money comes not from the "sweat of their brow", but from money they already have, playing with itself!

    "real" work : a job where you wash your hands BEFORE you use the bathroom...

    by chimene on Fri Mar 14, 2014 at 03:06:00 PM PDT

    [ Parent ]

    •  Yeah, investment income is a big problem (3+ / 0-)
      Recommended by:
      TheDudester, hbk, Flying Goat

      ...and we absolutely ought to be collecting self-employment tax (both the regular social security part and the part the employer usually pays) on investment income on those folks who don't work, or where their investment income is substantially larger than their earned income.

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