Social Security deductions (payroll taxes) at a glance

  • 1937 - 2%.
  • 1950 - 3%.
  • 1956 - 4%.
  • 1961 - 6%.
  • 1972 - 9.2%.
  • 1977 - 9.9%.
  • 1983 - 10.8%.
  • 1985 - 11.4%.
  • 1986 - 11.4%.
  • 1993 - 12.4%.
  • 1997 - To keep the unchanged system actuarially sound, payroll taxes would have to be increased to 18% of payroll, or benefits would have to be slashed by 30%.
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