Social Security Benefits

Yes, we work and we pay taxes and Social Security for the retirement. I found the article about the benefits of Social Security, it’s nice to know.

Social Security Insurance was established in 1935 as a financial safety net for older Americans. Eight decades later, all Americans pay into the system, with Social Security the largest source of income for citizens age 65 and older.

During 2012, nearly 160 million workers will continue to have 4.2 percent of their pay deposited into the Social Security Trust Fund instead of the usual 6.2 percent, according to a statement from the IRS based on the Temporary Payroll Tax Cut Continuation Act of 2011.

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