U.S. Sen. Tommy Tuberville, who on Wednesday called Social Security “a big Ponzi scheme,” estimated in February that he’s paid “close” to $1 million in Social Security taxes.
“You know, I’ve, for 40 years, paid max into Social Security. Max. And probably paid close to a million dollars in Social Security,” Alabama’s senior senator said during a Senate Health, Education, Labor and Pensions [HELP] Committee hearing Feb. 28 on the “retirement crisis in America.”
AL.com asked Tuberville’s office for his Social Security statement, which plainly documents how much Social Security taxes he’s paid, but did not receive a response.
The office was also asked whether Tuberville stands by his statement that the senator “probably paid close to a million dollars in Social Security.”
Even by the most conservative estimate, Tuberville has not paid $1 million into Social Security during his professional life.
Not even half a million dollars.
In 2024, the Social Security base limit — the maximum amount of wages subject to Social Security taxes — is $168,600.
Tuberville — and all members of Congress– hit this maximum with a $174,000 base salary.
Taxed at 6.2%, Tuberville’s Social Security tax contributions in 2024 are $10,453.20.
Even assuming, as Tuberville said in February, that he has paid this maximum amount for 40 years, the most he can have contributed to Social Security is $418,128.
That $418,128 figure doesn’t even take into account that the base limit has been far less than the 2024 maximum income of $168,600 over four decades.
For example, in 1984 — the start of Tuberville’s 40-year period — the base limit was $37,800, according to Social Security Administration data.
And the 6.2% Social Security tax rate, which has been effect from 1990 to today, has been as low as 5.7% in 1984, meaning the $418,128 conservative estimate is even lower.
Social Security has long been ridiculed by Alabama’s senior senator, who called the program “a big Ponzi scheme” depriving Americans of their hard-earned money.
“Here’s the sad truth: the American people don’t have any confidence that they will see all the money they paid into Social Security over the years,” he said on Wednesday.
“It’s a big Ponzi scheme, and everyone is forced to participate in it; you have no choice. It doesn’t matter if you’re 16 or 76. A little over 6% of your paycheck is taken out to pay for this retirement,” Tuberville continued. “Americans have been paying for Social Security for years only to see a fraction of what they have been promised …”
In May, the senator railed against the “scam.”
“No, most people won’t get Social Security,” Alabama’s senior senator, a Republican, told Newsmax TV’s “Carl Higbie FRONTLINE.”
“It’s just unfortunate,” Tuberville told Higbie, according to the station. “It was a tax that was levied on the American people years ago, sold a bill of goods. Hey, we’re going to take care of your retirement.”
