1 Answer

If my recollection is correct it was around 3.5% each for the employer and the employee and we would stop paying at around October or November on a salary of around $3,800. The self employed rate was around 5%.

I was a Union Steel worker, earning around $2.10 an hour. I started working for Bethlehem Steel in 1955 at $1.40 an hour and that was a good rate. I retired in 1986 as a craftsmen at $13,20 an hour and that was a great rate back then.

Today Walmart pays $14.50 an hour with benefits to their warehouse workers for driving a fork lift

If we do not change SS it will soon go broke and there will be no checks. They need to do what Reagan and Tip O'Neil did in the eighties and that is agree not to beat each other at the next election and readjust the rates to meet the current conditions. In my day one could collect a reduced benefit at age 62 and collect full benefits at 65 now it's is 63 and 66. It needs to go to 67 and 70 or else. In my day the guys my age were all dead, now people are living int into ninties......

.

14 years ago. Rating: 0
Comment this answer Add new comment