.... “It could be the difference between being able to take your family to McDonald’s at the end of the week. It means the difference between being able to go to a movie or not going to a movie.”
So, per week.
40*52 = $2,080 per yer.
2% of X = 2,080
X = 2,080/0.02
X = $104,000
The maximum social security amount per year is $106,800
(so sayeth ehow, http://www.ehow.com/info_7789422_maximum-security-tax-per-year.html )
Which means whoever came up with the $40 is referencing the -maximum- possible savings, not the typical or average.
$41.07 says the TI calculator.
Dude, that whole math thing is sooooo racist.