What are the social security in the United States? How much money can they get?

The American social security system consists of social insurance, social welfare and social relief. Since the establishment of the security system in the 1930s, the United States has formed a huge social security system, the main features of which are:

(1) Establish and gradually improve the social security system in time. At the beginning of this century, with the development of industrialization and the improvement of living standards, the American people generally paid attention to the lives of the elderly. The Great Depression in 1930s made the life of the elderly in the most difficult situation, and social pension became the hope of the elderly. 1934, Roosevelt established the Economic Insurance Committee, 1936 promulgated the Social Security Law, 1939 increased disability insurance and old-age spouse pension insurance. After several years of preparation. After accumulating a large amount of funds, it was put into practice on 1942 and began to issue pensions. There were no new changes in World War II. In the 1950s, the economy developed greatly. 1965 increased the medical insurance for the elderly, and 1972 increased the medical insurance for the disabled. After more than 50 years of gradual development and improvement, a huge social security system has been formed.

(2) The statutory retirement insurance for the elderly is compulsory, contributory and welfare. The sources of funds for retirement and medical insurance are normal and can be adjusted by themselves. The income and expenditure of its pension is determined according to the principle of pay-as-you-go and balance of payments. According to the forecast of population aging and the need of retirement expenses, the insurance tax rate is constantly adjusted, and the purpose of self-circulation and normal operation is achieved through self-adjustment.

(3) Develop voluntary endowment insurance operated by insurance companies, absorb idle funds to enhance economic strength and prepare for an aging population. In addition to life insurance, property insurance and death insurance, some life insurance companies in the United States also vigorously operate private endowment insurance with the nature of collective and individual voluntary insurance as a supplement to statutory retirement insurance. Collective retirement insurance is insured by the employer of the enterprise for employees. It can be insured more or less according to the quality of enterprise operation and the personal situation of employees, and employees can receive it monthly after retirement. The government supports retirement insurance through tax exemption. And the income obtained through investment is used to make up for the problem that inflation devalues the insured amount, ensure the income of retirees and enhance the social security of the elderly.

(4) Strictly control the payment standard and time of unemployment benefits, so as to facilitate the reemployment of the unemployed. Federal legislation stipulates that employers should pay unemployment insurance tax, while employees should not. The interest rate is determined by each state, and the whole country is not unified. Most regulations require a one-week waiting period before use, and the longest payment period is 26 weeks. According to the federal law, the statutory relief week can be extended by 50% during the peak period of unemployment, that is, it can be increased by 13 weeks at most. The purpose of strictly limiting the number of weeks of distribution is to encourage the unemployed to actively re-employment.

(5) Take measures to increase revenue and reduce expenditure to meet the severe challenge of aging. The main measures adopted in its research are: paying attention to the research on management and efficiency, security objectives and levels, and gradually increasing the insurance tax rate; Pensions should also be included in the scope of personal income tax, and the burden should be placed on high-income people; Appropriately reduce the level of various welfare benefits so that they can't keep up with the increase of wage level; Invest and operate with retirement funds to increase China's reserves and reduce the social burden of young people.

In the United States, employers need to withhold federal income tax and half of social security tax and medical insurance tax. The social security tax and medical insurance tax jointly paid by employers and employees constitute the federal social insurance tax. In some areas, employers are also required to withhold state income tax and even municipal income tax. In addition, employers are required to pay state and federal unemployment taxes.

Social security tax and medical insurance tax, also known as federal social insurance tax, are directly deducted from employees' wages, and employers must also pay the same proportion of federal social insurance tax for employees.

Social security tax, in 2007, the employer must deduct 6.2% from the employee's salary (not exceeding the salary limit of that year) and bear the same proportion. The total contributions of employers and employees account for 12.4% of the total wages of employees. The wage limit of social security tax in 2007 was 97,500 dollars. Once the wage income exceeds this limit, employees or employers are not required to pay any social security tax for the excess in that year.

Medical insurance tax, in 2007, the employer must deduct 1.45% from the employee's salary and bear the same proportion. The total contribution of employers and employees accounts for 2.9% of the total wage income of employees. Different from social security tax, employers and employees are based on actual wage income, and there is no upper limit on wage income as the tax basis.

In addition, every employer must pay state and federal unemployment insurance taxes. The federal unemployment insurance tax is 6.2% of employees' wage income, but it is usually only 0.8%, because the federal government allows employers who pay the state unemployment insurance tax to enjoy a tax reduction of 5.4%. The tax base of unemployment insurance tax includes at least the first $7,000 of employees' annual income. Each state has different tax rates, so employers need to refer to the state government's regulations on tax rates and maximum wages. Many States in the United States require newly insured enterprises to pay taxes at the average tax rate until their employment history is formed. For example, Indiana requires new employers to pay 2.7% tax in the first three years. Generally speaking, the tax rate is adjusted according to various factors, such as whether former employees claim unemployment benefits.