In 1950, Social Security was funded with a 3% payroll tax. There were 16 workers for every 1 beneficiary.
In 2007, Social Security is funded by a 12.4% payroll tax. There are only 3.3 workers for every 1 beneficiary.
To help out, I hereby promise to never file to collect Social Security benefits.
Other interesting opinions: Carpetbagger, Economist’s View
2 thoughts on “Social Security”
but didn’t you buy a “historic site” house to minimize your tax payments? even though you say you won’t claim Soc Sec, you do practice tax avoidance. how about you claim your Soc Sec checks and just pay more taxes? 😉
No, I didn’t buy a house to minimize tax payments
But, everyone *should* minimize their tax payments in every legal way possible.