Fact of the Day: The Social Security Wage Cap For 2014 Is $117,000

In a “Fact of the Day” article last November, I wrote that, “eliminating the [Social Security] wage cap while keeping the benefits cap produces a Social Security surplus.” But you don’t have to take my word for it as this is a fact backed up by the Congressional Research Service. But it’s also just common sense. If you lift the revenue limiter (the wage cap) but you pay out the same benefits, obviously Social Security will be solvent for some time to come.

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