Social Security: The World's Largest (Legal) Chain Letter
When Social Security was implemented, the maximum amount any one person paid into the system was $60 per year—a total of two percent from employee and employer of a maximum $3000 per year. Today, the percentage is around 14% on $80,000+ per year. This compulsory “tax” is said to be a “contribution,” as in the “employers contribution portion of Social Security.” Try telling the Social Security Admi [...]