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The crunch to come... Social security taxes were raised to build a surplus... $300 Collected 250 Mey paid into the system has been greatly
The crunch to come... Social security taxes were raised to build a surplus... $300 Collected 250 Mey paid into the system has been greatly exceeding benefits since 1983. Scale in billions of dollars. ...These taxes have increased at a faster rate than the . federal income tax Federal taxes, treated as if they 200 were equal in 1982. (1982 = 100) Social Security and Medicare 200 Paid out 150 100 150 Income tax 100 1 I 1960 '65 70 75 '80 '85 '90 But the baby boomers will break the bank... By one government projection, the Social Security system will be paying out more than it is taking in by 2015, and the trust fund will run out of money by the year 2036. Scale in billions of dollars. 1111111 - 8 -25 -20 1995 00 05 10 15 20 25 30 35 50 0 | | 50 '80 81 82 83 84 85 86 87 88 89 90 91 92 est. ...Because there will be fewer workers to tax How many workers pay into Social Security for each person getting benefits. $5,000 4,000 3,000 3.7 3.2 3.4 3.2 2.9 2.4 2.0 2.0 2,000 1,000 1970 1980 1990 2000 2010 2020 2030 2040 0 at is the difference between the amount of money collected from Social Security taxes and the amount paid out in 1992? $10 billion $20 billion O $50 billion O $100 billion
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