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Social Security wage limits

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13 December 2019, 04:31 PM
Steve Miller
Social Security wage limits
I got a new tax table from Quickbooks today. Looks like Social Security wage limits are going up - from $132,900 to $137,700. It's not much but it's a good start.

I've searched and can not find how this came about. Was it part of tax cut?


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Life is short. Play with your dog.

13 December 2019, 04:34 PM
jon-nyc
No, it’s indexed. They go up every year.


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If you think looting is bad wait until I tell you about civil forfeiture.

13 December 2019, 05:07 PM
Steve Miller
First time I've noticed it.

Indexed to what?


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Life is short. Play with your dog.

13 December 2019, 07:14 PM
Piano*Dad
Social Security Benefit Base

Changes based on a wage index. It's gone up every year recently, but 2016 and the recession years 2010 and 2011.
13 December 2019, 07:32 PM
jon-nyc
I think generally speaking it’s higher than the normal CPI (CPI-U).


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If you think looting is bad wait until I tell you about civil forfeiture.

14 December 2019, 05:38 AM
jon-nyc
quote:
Originally posted by Piano*Dad:
Social Security Benefit Base

Changes based on a wage index. It's gone up every year recently, but 2016 and the recession years 2010 and 2011.


Interesting chart. It doubled between 76 and 82.

And only broke 100k about a decade ago.


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If you think looting is bad wait until I tell you about civil forfeiture.