The levels that will really cause damage are the upper frequencies, not so much the sub bass.
Think about it, hearing damage is usually accompanied with pain and ringing that lasts for more than 15 minutes after the event. How many times has bass caused your ears to ring? I've been caught off guard at shoot ranges before when people have fired a weapon close by while I had hearing protection out. That shit hurts and the ringing lasts a while. Rifles usually meter around 140dBs or so and I've listened to systems with bass that far exceeds 140dB yet I'm never in pain and I have never had ringing due to bass.
I have, however, had my ears ring from driving over about a 2 hour period listening to rock at full tilt and after a while, it does get a little painful.