Account" in the United States Treasury, and Congress is authorized to put
into this reserve account each year enough money to provide for the
monthly payments you and other workers are to receive when you are 65.



YOUR PART OF THE TAX


The taxes called for in this law will be paid both by your employer and by
you. For the next 3 years you will pay maybe 15 cents a week, maybe 25
cents a week, maybe 30 cents or more, according to what you earn. That is
to say, during the next 3 years, beginning January 1, 1937, you will pay 1
cent for every dollar you earn, and at the same time your employer will
pay 1 cent for every dollar you earn, up to $3,000 a year. Twenty-six
million other workers and their employers will be paying at the same time.


After the first 3 years--that is to say, beginning in 1940--you will, pay,
and your employer will pay, 11/2 cents for each dollar you earn, up to
$3,000 a year. This will be the tax for 3 years, and then, beginning in
1943, you will pay 2 cents, and so will your employer, for every dollar
you earn for the next 3 years. After that, you and your employer will each
pay half a cent more for 3 years, and finally, beginning in 1949, twelve
years from now, you and your employer will each pay 3 cents on each dollar
you earn, up to $3,000 a year. That is the most you will ever pay.



YOUR EMPLOYER'S PART OF THE TAX