CHAPTER 32 – LECTURE NOTES - Free Webs

1. Social Security, the Federal pension program, is financed by a payroll tax of 6.2 percent levied on both the worker and the worker’s employer on the first $94,200 of wage income. Currently, over 90 percent of the labor force is covered by this system. Roughly 48 million people received OASDHI benefits averaging about $995 per month. 2. ................
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