Maybe Social Security Is Just Another Tax We Pay

Maybe Social Security Is Just Another Tax We Pay
Income thresholds don’t go up with inflation, despite the fact that Social Security benefits rise each year and people are generally earning more money than they did in the past. Dreamstime/TNS
Tom Margenau
Updated:

I’ve received a lot of emails recently from readers trying to calculate how much they paid in Social Security taxes over the years and then wanting to compare that to what they will get out of the system in return. More often than not, they are trying to prove that Social Security is a rotten deal. While considering my response to these folks, I thought back to a column I wrote on this topic. I guessed it was just a couple of years ago, but when I checked, I wrote the column way back in 2010. I decided I’m going to reprint the column today. I think it bears repeating, so here is that column I wrote 13 years ago:

“I’m writing this at 2 o'clock in the morning, so I’m not sure if the message I’m trying to convey in this column is a startling revelation or the mindless meanderings of a half-asleep brain! Let’s find out.

Tom Margenau
Tom Margenau
Author
Tom Margenau worked for 32 years in a variety of positions for the Social Security Administration before retiring in 2005. He has served as the director of SSA’s public information office, the chief editor of more than 100 SSA publications, a deputy press officer and spokesman, and a speechwriter for the commissioner of Social Security. For 12 years, he also wrote Social Security columns for local newspapers, and recently published the book “Social Security: Simple and Smart.” If you have a Social Security question, contact him at [email protected]
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