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Historical Social Security Tax Rates, 1937 to 2022 [1] Source: Social Security Administration. Contribution And Benefit Base. https://www.ssa.gov/OACT/COLA/cbb.html Notes: [1] The tax rate refers to the combined rate for employers and employees. [2] . OASDI refers to the "Old-Age, Survivors, and Disability Insurance" program.
Nov 27, 2023 · The 2024 Social Security wage base is $168,600, up from the 2023 limit of $160,200. After an employee earns above the annual wage base, do not withhold money for Social Security taxes. And, don’t contribute anything else. Not all employees will earn above the withholding limit.
Feb 11, 2013 · Maximum Earnings. Year. Maximum Earnings. 2013. $113,700. 1988. $45,000. 2012. $110,100. 1987. $43,800. 2011. $106,800. 1986. $42,000. 2010. $106,800. 1985. $39,600. 2009. $106,800. 1984. $37,800. 2008. $102,000. 1983. $35,700. 2007. $97,500. 1982. $32,400. 2006. $94,200. 1981. $29,700. 2005. $90,000. 1980. $25,900. 2004. $87,900. 1979. $22,900 ...
Mar 27, 2023 · The Social Security Amendments of 1977 (P.L. 95-216) gradually increased the base beyond what would have resulted from the automatic-adjustment procedures from 1978 to 1981 such that in 1981, the taxable earnings base was $7,500 higher than the “old-law” base.
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 By the late 1940s, post-WWII wages rose and the $15 earnings limit became outdated.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...
