Government Waste
The Social Security Ripoff:
1. Suppose you began working in 1930 at the age
of 20 and retired in 1975:
- Between 1937 and 1949, maximum S.S. tax was $60/year or a total of $780.
- Between 1950 and 1965, maximum S.S. tax was $348/year or a total of $3,432.
- Between 1966 and 1975, maximum S.S. tax was $1,649/year of a total of $14,841.