..............Just remember, theyve been shorting the kitty by 2% for the last two years. Wonder what that adds up to????..............
Lets put those calculations into the whizzinator! Wzzzzz.
The normal take for the SS Admin is a total of 12.4% of payroll (1/2 emp, 1/2 empr.) So a reduction of 2%, to a total of 10.4% means that for the last two years SS Admin has only received 10.4%/12.4%. or 83.9% of the normal take.
In 2009, the SS Admin took in $807.5 Billion in “contributions”. So 83.9% of that amount totals $677 Billion, for an annual shortfall of about $130 Billion.
Yeah employment levels and wages will change that date, but that’s an approximation.
“Lets put those calculations into the whizzinator! Wzzzzz.”
I predict the payroll tax cut for the employee will never be recinded. They will raise the employer part instead, and crow about how they stuck it to those nasty bosses.