5 Unusual Facts About Social Security in the USA

When you see all the amounts that are regularly deducted from your paycheck, it may seem a little discouraging. Items marked as FICA, SS, or OADSI are abbreviations for some type of social security deduction.

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Americans who are employed will pay up to 6,2% of their salaries to social insurance programs, and the self-employed will pay up to 12,4%, writes The brainy penny.

Although most people have basic information about social security programs, here are some little-known facts about Social Security, which may seem a bit odd, but very interesting.

Fact # 1: Your number will go to another world with you.

Your social security number will never repeat. This is a unique number issued only to you and no one else, so after your death this number will never get to anyone.

To date, the government has provided more than 453 million numbers. However, with more than a billion possible combinations of numbers, it will take quite a long time before the program has to think about recycling these numbers or creating a new set.

Fact No. 2: The Mexican Economy and Social Security USA have something in common

Believe it or not, the amount of money Social Security pays out every year is very close to the size of Mexico’s economy.

This is true! In the 2018 year, it is estimated that Mexico’s economy will reach a trillion dollar in 1. In 2017, social security paid 955 billions to Americans. Wow! Who would have thought?

Fact # 3: Who was the first recipient of social security benefits?

She was Ida Mae Fuller from Brattleboro, Vermont. Everyone knew her as Aunt Ida. She received her first payment from Social Security in the early 1940s - a whopping $22,54. Now it's about $352. Not a significant amount at any rate, but better than nothing.

Fact #4: Uncle Sam is a borrower

You may have heard or read online that Uncle Sam, the collective image of the United States, is “attacking” and “stealing” money from social security programs to pay government bills, but this is not entirely true.

However, Uncle Sam really borrows money from a trust fund. Laws state that any surplus in the social security fund should be invested in US Treasury bonds, which is used to pay off government debt for other expenses.

Fact No. 5: First Social Security Card

23-year-old John D. Sweeney Jr. was recorded as the first person to receive a social security card. Although the Social Security agency acknowledges that they no longer have records to find the owner of the 001-01-0001 number, they have the John Sweeney 055-09-0001 card number. He received his card in 1936 year.

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