-HomePage
Congress passed the Social Security Act in 1935 via the New Deal so that you'd never have to live with your parents again. In 1959 the federal government took only about 1.7% from the first $4,800 of your taxable earnings. Twenty years later, 5.08% (up to a $22,900 ceiling) went to keep gramps out of the house. Today, in what's become the most regressive levy since the poll tax, 6.2% of up to $62,700 goes toward keeping gray panthers in condos and golf carts.