Government Theft
The U.S. government collects over $1.2 trillion annually in net payroll taxes for Social Security (OASDI), with total income to the trust funds (including interest and taxation of benefits) reaching $1.351 trillion in 2023. These taxes are primarily funded by a 12.4% tax rate (6.2% each for employer and employee) on wages up to $176,100 in 2025. Details regarding Social Security tax collection: Total Revenue: In 2023, net payroll tax contributions amounted to $1.233 trillion, with an additional $51 billion from taxation of benefits and $67 billion in interest. Tax Rates: The total rate is 12.4% (6.2% for employees and 6.2% for employers). Self-employed individuals pay the full 12.4%. Taxable Maximum: The maximum amount of earnings subject to the Social Security tax is $176,100 for 2025. This increases to $184,500 in 2026. Budget Share: Payroll taxes for Social Security and other soc...