Social Security and Medicare Taxes and Benefits over a Lifetime

[SumDay]

Social Security and Medicare Taxes and Benefits over a Lifetime: 2013 Update

This Urban Institute updated report came across my desk today at work, and thought y'all might be interested. There's a link to download the full 10 page PDF:

These tables update to 2013 previous estimates of the lifetime value of Social Security and Medicare benefits and taxes for typical workers in different generations at various earning levels based on new estimates of the Social Security Actuary. The "lifetime value of taxes" is based upon the value of accumulated taxes, as if those taxes were put into an account that earned a 2 percent real rate of return (that is, 2 percent plus inflation). The "lifetime value of benefits" represents the amount needed in an account (also earning a 2 percent real interest rate) to pay for those benefits. All amounts are presented in constant 2013 dollars.

 

[Walt34]

Wow. Now I don't feel nearly as bad as I did when I complained about the taxes in my 20's/30's.