Reply #5: It could still work with only 2 workers per retiree...maybe [View All]

Making a lot of assumptions (like in 2042 we'll have similar economic conditions as we have today) it's just workable -- but with little room for overhead.

The average annual salary in the US in 2004 was about $43,318. That means each hypothetical average worker pays 2685.72 per year in Social Security taxes. Their employer also pays a matching 6.2% into Social Security, making a total contribution of $5,371 per worker into the fund.

So with two average workers, that gives about $10,742 to support one retiree. I think Social Security currently pays out about $12,000 per retiree, so it comes up a little bit short -- more so if average pay keeps dropping.

But it's something that needs a 'tweak', not an overhaul, even in this worst case.