That Figures: Social Security

Following the lead of Wilt Chamberlain, Adam vacated his native Philadelphia for Los Angeles following decades of acclaim and short shorts. He firmly believes that, when it comes to the opportunity for change, we’re on the goal line with bases loaded and no fouls to give. He also finds inspiration in mixed sports metaphors.

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53.5 Million
Americans will receive Social Security benefits in 2010.
$703 Billion
Total paid out to Social Security beneficiaries in 2010.
$1,072
Average monthly Social Security payment.
  64 percent
of recipients count Social Security as their primary source of income.
35 percent
of older Americans were kept out of poverty in 2007 thanks to Social Security.
2042
The year Social Security reserves are expected to be depleted.
6.2 percent
of employer and employee wages are taxed (up to $106,800) to fund Social Security. The self-employed pay 12.4 percent.

Sources:Social Security Administration | AARP | Associated Press


Photo: Social Security Administration/WikipediaCommons




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