Thursday, May 22, 2014

[NJFAC] SS taxes exceed lifetime benefits for all but lower-income couples; based on 2012 SS Trustees Report:

Expected Lifetime Social Security and Medicare Benefits, 2012 dollars
Social Security benefits at age 65
Tables included for the following cohorts:

Results for year 2010:
Single man, average wage: SS taxes exceed SS benefits
Single woman, average wage: SS taxes about equal SS benefits

One-earner couple, average wage: benefits exceed taxes

Two-earner couple, average/low wage: benefits exceed taxes

Two-earner couple, average wages: taxes exceed benefits

Two-earner couple, high/average wages: taxes exceed benefits

For all these categories, medicare benefits significantly exceed medicare taxes

See tables:

Thanks to Dean Baker's blog.
National Jobs for All Coalition

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