# Social Security (United States)

In the United States, **Social Security** is the term for the federal **Old-Age, Survivors, and Disability Insurance** (**OASDI**) program. That program is run by the Social Security Administration. The original Social Security Act was signed into law by President Franklin D. Roosevelt in 1935. The current version of the Act, as amended, involves many social welfare and social insurance programs.

Social Security gets its money through payroll taxes. Those taxes are called Federal Insurance Contributions Act tax (FICA) or Self Employed Contributions Act Tax (SECA). Tax deposits are collected by the Internal Revenue Service (IRS). Almost all salaried income, up to an certain amount set by law (see tax rate table below), is taxed by the Social Security payroll tax. All income over the set amount is not taxed. In 2019, the maximum amount of taxable money is $132,900.

In 2017, Social Security spent $806.7 billion for OASDI and $145.8 billion for DI.

## History

| Historical Social Security Tax Rates Maximum Salary FICA or SECA taxes paid on |
| --- |
|

---

 |
| Year |  Maximum Earnings taxed | OASDI Tax rate | Medicare Tax Rate | Year |  Maximum Earnings taxed | OASDI Tax rate | Medicare Tax Rate |
| 1937 | 3,000 | 2% | — | 1978 | 17,700 | 10.1% | 2.0% |
| 1938 | 3,000 | 2% | — | 1979 | 22,900 | 10.16% | 2.1% |
| 1939 | 3,000 | 2% | — | 1980 | 25,900 | 10.16% | 2.1% |
| 1940 | 3,000 | 2% | — | 1981 | 29,700 | 10.7% | 2.6% |
| 1941 | 3,000 | 2% | — | 1982 | 32,400 | 10.8% | 2.6% |
| 1942 | 3,000 | 2% | — | 1983 | 35,700 | 10.8% | 2.6% |
| 1943 | 3,000 | 2% | — | 1984 | 37,800 | 11.4% | 2.6% |
| 1944 | 3,000 | 2% | — | 1985 | 39,600 | 11.4% | 2.7% |
| 1945 | 3,000 | 2% | — | 1986 | 42,000 | 11.4% | 2.9% |
| 1946 | 3,000 | 2% | — | 1987 | 43,800 | 11.4% | 2.9% |
| 1947 | 3,000 | 2% | — | 1988 | 45,000 | 12.12% | 2.9% |
| 1948 | 3,000 | 2% | — | 1989 | 48,000 | 12.12% | 2.9% |
| 1949 | 3,000 | 2% | — | 1990 | 51,300 | 12.4% | 2.9% |
| 1950 | 3,000 | 3% | — | 1991 | 53,400 | 12.4% | 2.9% |
| 1951 | 3,600 | 3% | — | 1992 | 55,500 | 12.4% | 2.9% |
| 1952 | 3,600 | 3% | — | 1993 | 57,600 | 12.4% | 2.9% |
| 1953 | 3,600 | 3% | — | 1994 | 60,600 | 12.4% | 2.9% |
| 1954 | 3,600 | 4% | — | 1995 | 61,200 | 12.4% | 2.9% |
| 1955 | 4,200 | 4% | — | 1996 | 62,700 | 12.4% | 2.9% |
| 1956 | 4,200 | 4% | — | 1997 | 65,400 | 12.4% | 2.9% |
| 1957 | 4,200 | 4.5% | — | 1998 | 68,400 | 12.4% | 2.9% |
| 1958 | 4,200 | 4.5% | — | 1999 | 72,600 | 12.4% | 2.9% |
| 1959 | 4,800 | 5% | — | 2000 | 76,200 | 12.4% | 2.9% |
| 1960 | 4,800 | 6% | — | 2001 | 80,400 | 12.4% | 2.9% |
| 1961 | 4,800 | 6% | — | 2002 | 84,900 | 12.4% | 2.9% |
| 1962 | 4,800 | 6.25% | — | 2003 | 87,000 | 12.4% | 2.9% |
| 1963 | 4,800 | 7.25% | — | 2004 | 87,900 | 12.4% | 2.9% |
| 1964 | 4,800 | 7.25% | — | 2005 | 90,000 | 12.4% | 2.9% |
| 1965 | 4,800 | 7.25% | — | 2006 | 94,200 | 12.4% | 2.9% |
| 1966 | 6,600 | 7.7% | 0.7% | 2007 | 97,500 | 12.4% | 2.9% |
| 1967 | 6,600 | 7.8% | 1.0% | 2008 | 102,000 | 12.4% | 2.9% |
| 1968 | 7,800 | 7.6% | 1.2% | 2009 | 106,800 | 12.4% | 2.9% |
| 1969 | 7,800 | 8.4% | 1.2% | 2010 | 106,800 | 12.4% | 2.9% |
| 1970 | 7,800 | 8.4% | 1.2% | 2011 | 106,800 | 10.4% | 2.9% |
| 1971 | 7,800 | 9.2% | 1.2% | 2012 | 110,100 | 10.4% | 2.9% |
| 1972 | 9,000 | 9.2% | 1.2% | 2013 | 113,700 | 12.4% | 2.9% |
| 1973 | 10,800 | 9.7% | 2.0% | 2014 | 117,000 | 12.4% | 2.9% |
| 1974 | 13,200 | 9.9% | 1.8% | 2015 | 118,500 | 12.4% | 2.9% |
| 1975 | 14,100 | 9.9% | 1.8% | 2016 | 118,500 | 12.4% | 2.9% |
| 1976 | 15,300 | 9.9% | 1.8% | 2017 | 127,200 | 12.4% | 2.9% |
| 1977 | 16,500 | 9.9% | 1.8% | 2018 | 128,400 | 12.4% | 2.9% |
| Notes: Tax rate is the sum of the OASDI and Medicare rate for employers and workers. In 2011 and 2012, the OASDI tax rate on workers was set temporarily to 4.2% while the employers OASDI rate remained at 6.2% giving 10.4% total rate. Medicare taxes of 2.9% now (2013) have **no** taxable income ceiling. Sources: Social Security Administration |

A limited form of the Social Security program started during President Franklin D. Roosevelt's first term. It started using "social insurance" to help during the Great Depression of the 1930s.

## Other websites

* **Old-Age, Survivors, and Disability Insurance ("OASDI')**
	+ Social Security Administration
	+ Social Security Advisory Board
	+ Social Security Retirement Questions FAQ
	+ Duties of Social Security Disability Attorneys
	+ Social Security Internet Myths part 1, Social Security Internet Myths part 2
	+ Congressional Budget Office: Social Security Primer (2001)
	+ US Government Accountability Office, *Social Security Reform: Answers to Key Questions*
	+ Social Security Act of 1935
	+ Social Security Amendments of 1983
* **Calculators**
	+ Social Security benefit calculators
	+ Urban Institute's USA TODAY Lifetime Social Security and Medicare Benefits Calculator Archived 2015-02-23 at the Wayback Machine
* **More information**
	+ Commission to Strengthen Social Security
	+ Social Security Advisory Board
	+ President's Commission to Strengthen Social Security
	+ 75th Anniversary of Social Security at the Franklin D. Roosevelt Presidential Museum and Library
	+ TimeLines of US SSI Numbers Archived 2016-10-10 at the Wayback Machine (Years Numbers States)
	+ Social Security Death Index Information
* **Articles**
	+ Genakoplos, John; Mitchell, Olivia S.; Zeldes, Stephen P. (1998). "Would a Privatized Social Security System Really Pay a Higher Rate of Return". In Arnold, R. Douglas; Graetz, Michael J.; Munnell, Alicia H. (eds.). *Framing the Social Security Debate: Values, Politics, and Economics*. Brookings Institution Press. pp. 137–156. doi:10.3386/w6713. ISBN 0-8157-0153-5.
	+ Social Security: Major Decisions in the House and Senate Since 1935 Archived 2019-04-12 at the Wayback Machine Congressional Research Service (2016)
	+ Social Security's Financial Outlook and Reforms: An Independent Evaluation, Jagadeesh Gokhale, member of the Social Security Advisory Board advising Congress and the President
	+ Time Archives Archived 2013-08-23 at the Wayback Machine A Collection regarding Social Security's progression and perception over time