interesting comment
I paid into the SS system at the “limit” pretty much every year from 66 to 08.
I’ll have to make a spreadsheet and do that calculation.
After which I’ll probably throw up.
Twofold benefit, people made whole and government reduced: win-win.
You won’t like it. The DOW average rate of return on 12.4% investment on auto reinvestment of earnings and losses during that span would be very good. The Dow average in ‘68 was 906.
That's for someone making 1.3 times the minimum wage. For someone like yourself, you might have $4 or $5 million saved up.
Max earnings
total employee rate
total employer rate
total self-employed rate
Employee & Employer
Self-employed
$0.00
$0.00
1966
$6,600.00
4.20%
4.20%
6.15%
$554.40
$405.90
1967
$6,600.00
4.40%
4.40%
6.40%
$580.80
$422.40
1968
$7,900.00
4.40%
4.40%
6.40%
$695.20
$505.60
1969
$7,900.00
4.80%
4.80%
6.90%
$758.40
$545.10
1970
$7,900.00
4.80%
4.80%
6.90%
$758.40
$545.10
1971
$7,900.00
5.20%
5.20%
7.50%
$821.60
$592.50
1972
$9,000.00
5.20%
5.20%
7.50%
$936.00
$675.00
1973
$10,800.00
5.85%
5.85%
8.00%
$1,263.60
$864.00
1974
$13,200.00
5.85%
5.85%
7.90%
$1,544.40
$1,042.80
1975
$14,100.00
5.85%
5.85%
7.90%
$1,649.70
$1,113.90
1976
$15,300.00
5.85%
5.85%
7.90%
$1,790.10
$1,208.70
1977
$16,500.00
5.85%
5.85%
7.90%
$1,930.50
$1,303.50
1978
$17,700.00
6.05%
6.05%
8.10%
$2,141.70
$1,433.70
1979
$22,900.00
6.13%
6.13%
8.10%
$2,807.54
$1,854.90
1980
$25,900.00
6.65%
6.65%
8.10%
$3,444.70
$2,097.90
1981
$29,700.00
6.70%
6.70%
9.30%
$3,979.80
$2,762.10
1982
$32,400.00
6.70%
6.70%
9.35%
$4,341.60
$3,029.40
1983
$35,700.00
7.00%
7.00%
9.35%
$4,998.00
$3,337.95
1984
$37,800.00
7.05%
7.05%
14.00%
$5,329.80
$5,292.00
1985
$39,600.00
7.15%
7.15%
14.10%
$5,662.80
$5,583.60
1986
$42,000.00
7.15%
7.15%
14.30%
$6,006.00
$6,006.00
1987
$43,800.00
7.51%
7.51%
15.02%
$6,578.76
$6,578.76
1988
$45,000.00
7.51%
7.51%
15.02%
$6,759.00
$6,759.00
1989
$48,000.00
7.65%
7.65%
15.30%
$7,344.00
$7,344.00
1990
$51,300.00
7.65%
7.65%
15.30%
$7,848.90
$7,848.90
1991
$53,400.00
7.65%
7.65%
15.30%
$8,170.20
$8,170.20
1992
$55,500.00
7.65%
7.65%
15.30%
$8,491.50
$8,491.50
1993
$57,600.00
7.65%
7.65%
15.30%
$8,812.80
$8,812.80
1994
$60,600.00
7.65%
7.65%
15.30%
$9,271.80
$9,271.80
1995
$61,200.00
7.65%
7.65%
15.30%
$9,363.60
$9,363.60
1996
$62,700.00
7.65%
7.65%
15.30%
$9,593.10
$9,593.10
1997
$65,400.00
7.65%
7.65%
15.30%
$10,006.20
$10,006.20
1998
$68,400.00
7.65%
7.65%
15.30%
$10,465.20
$10,465.20
1999
$72,600.00
7.65%
7.65%
15.30%
$11,107.80
$11,107.80
2000
$76,200.00
7.65%
7.65%
15.30%
$11,658.60
$11,658.60
2001
$80,400.00
7.65%
7.65%
15.30%
$12,301.20
$12,301.20
2002
$84,900.00
7.65%
7.65%
15.30%
$12,989.70
$12,989.70
2003
$87,000.00
7.65%
7.65%
15.30%
$13,311.00
$13,311.00
2004
$87,900.00
7.65%
7.65%
15.30%
$13,448.70
$13,448.70
2005
$90,000.00
7.65%
7.65%
15.30%
$13,770.00
$13,770.00
2006
$94,200.00
7.65%
7.65%
15.30%
$14,412.60
$14,412.60
2007
$97,500.00
7.65%
7.65%
15.30%
$14,917.50
$14,917.50
2008
$102,000.00
7.65%
7.65%
15.30%
$15,606.00
$15,606.00
2009
$106,800.00
7.65%
7.65%
15.30%
$16,340.40
$16,340.40
2010
$106,800.00
7.65%
7.65%
15.30%
$16,340.40
$16,340.40
2011
$106,800.00
5.65%
7.65%
13.30%
$14,204.40
$14,204.40
Total
$335,108.40
$323,735.41