For 2009 and 2010 the amounts are 6621.80 maximum contribution amount on 106,800 of your gross earned income.
800
115.00
For the year 2004 the maximum earnings subject to the 6.2% social security tax was 87,900. For the year 2004 the amount was 5449.80 maximum contribution amount to the OASDI program social security benefit program.
Social security contributions continue each working year, and do not stop at some lifetime limit. For example, the lifetime accumulated maximum someone has paid if working since 1963 would be $123K. That would require the person makes at least the maximum taxed income each year, which was $109,000 for 2009. Source documentation may be found at http://www.ssa.gov/history/pdf/t2a3.pdf
In 1990, the Social Security contribution base was $51,300. One Social Security work credit cost $520 in earned wages, for a maximum of four credits per year at $2080.
For 2008, the maximum social security tax withholding for an individual is $6,324, the tax on $102,000. For 2009, the maximum social security tax withholding for an individual is $6,622, the tax on $106,800.
For the year 2010 the maximum amount paid in to the old age survivors and disability insurance program (SSB) with one employee would be wages of 106800 and social security amount withheld would be 6621.60 for the year 2010.
how many people die each year who are social security recipients
Social Security Taxes
That depends, if you're below the maximum amount of income that you can earn for that tax year, then it won't trigger a claw back of some of your social security. On the other hand, if your income is over the maximum amount you're allowed to earn, then the government will take the appropriate deduction from your social security.
In 1990, one Social Security work credit cost $520 in earned wages, for a maximum of four credits per year at $2080.
Social security is not the best retirement fund. There is a maximum that goes in each year so you will not get enough in retirement from just that. 10-20% of your income into a separate retirement account would be ideal.
It is difficult to provide an exact number since not all instances of compromised SSNs are reported. However, it is estimated that millions of individuals have their Social Security Numbers compromised each year due to data breaches, identity theft, and other forms of fraud.
http://www.ssa.gov/pressoffice/pr/2008cola-pr.htm News Release Social Security Announces 2.3 Percent Benefit Increase for 2008 Monthly Social Security and Supplemental Security Income benefits for more than 54 million Americans will increase 2.3 percent in 2008, the Social Security Administration announced today. Social Security and Supplemental Security Income benefits increase automatically each year based on the rise in the Bureau of Labor Statistics' Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), from the third quarter of the prior year to the corresponding period of the current year. This year's increase in the CPI-W was 2.3 percent. The 2.3 percent Cost-of-Living Adjustment (COLA) will begin with benefits that nearly 50 million Social Security beneficiaries receive in January 2008. Increased payments to more than 7 million Supplemental Security Income beneficiaries will begin on December 31. Some other changes that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $102,000 from $97,500. Of the estimated 164 million workers who will pay Social Security taxes in 2008, nearly 12 million will pay higher taxes as a result of the increase in the taxable maximum.