hillary -- social security

[DesertFlower]

i also want to talk about hillary and her position on social security. last night bernie tried to get her to take a pledge that she would remove the cap.

she said that raising the cap was a posibility but there were other options which could help social security. they all involved having the rich pay more.

i want to address the cap. my late husband seemed to reach the cap every september. it was nice to have 3 months of an extra $700+.

right now the cap is $118,500. now some may think if you make that much money you're rich. not so, especially if you live somewhere like NYC or san francisco and have children.

i believe hillary is thinking of removing the cap after $250,000.

[DemonGoddess]

1. I can see looking for alternatives

to raising the cap, because as you say, having a few months of that money you normally wouldn't, certainly comes in handy. Especially with the situation you're describing.

[DesertFlower]

2. it does -- the cap wasn't always that high.

i hit it once back in NYC when it was about $47,000. it used to go up every year.

[LiberalFighter]

3. My concern about lifting the cap is those in that category would receive more Social Security.

Which imo would not help solve the problem. Unless they put a cap on the amount that people in higher income could receive based on their lifetime earnings.

[DesertFlower]

4. i think hillary is considering that too.

she doesn't want to commit until she's looked at the best alternative.

i think there is a maximum amount social security pays. i'm going to check it.

[DesertFlower]

6. maximum social security benefit

http://www.investopedia.com/ask/answers/102814/what-maximum-i-can-receive-my-social-security-retirement-benefit.asp

remember if you make over a certain amount you have to pay tax on 85% of your social security.

https://faq.ssa.gov/link/portal/34011/34019/article/3831/must-i-pay-taxes-on-social-security-benefits

[LiberalFighter]

8. I believe there is too.

And that is based on the current cap for payout.

[apcalc]

5. I'm sure she will examine the problem

From many angles, consult actuaries and other experts, come up with something workable and reasonable to maintain the program. We can be sure it will NOT involve privatization, the Republican plan to destroy it.

[Thinkingabout]

7. I understand the "cap" we have will remain, when wages reach $250,000 FICA will start again and

All wages after the $250,000 will be taxed. This is the plan she put forth last year and Sanders agenda was for all wages to bec taxed. There was even some post here chastising Hillary for thinking middle class was $250,000. Sandèrs did not listen to Hillary last night and had his planned talking point ready and even said hec was glad Hillary has gone to his plan when in fact Sanders went to Hillary's plan. He has gone to Hillary's plan to use Dodd Frank, he had been saying to reinstate Glass Stegall. He doesn't know what section covers breaking up the banks but he is now saying Dodd Frank.