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Historically, an average of roughly 83 percent of covered earnings have been subject to the payroll tax. In 1983, this figure reached 90 percent, but it has declined since then. As of 2010, about 86 percent of covered earnings fall under the tax max.
In the 1939 amendments to the Social Security Act, they defined “regular employment” as having earnings of less than $15 in one month. How the Earnings Limit Evolved Over Time. By the late 1940s, post-WWII wages rose and the $15 earnings limit became outdated.
Jan 28, 2017 · Between 1972 and 1974, the maximum taxable earnings were determined by amendments passed in 1972. To get a better feel for how Social Security's maximum taxable earnings have grown throughout...
