Social Security for years had a taxable ceiling of $42,500. If you made a million dollars in any given year, your FICA liability would have been maxed at $42.5. Actually from $3,000 in (1937) to $110,100 (2012). Which means you had no FICA taxable liability above those earned amounts. Though if you considered the commensurate salary increase for the average population during that time, you would find it woefully unobliging. Truth is most people earning above that amount during their life time have no need for social security benefits. But those monies have been appropriated for other needs. The rape of the social security system in this country is tantamount to extortion and every government official that has signed off on such appropriations should be put behind bars.
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