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Adjusted for inflation, how much larger is the maximum annual Social Security payroll tax per person than what the federal government promised would be "the most you will ever pay"?

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At the outset of the Social Security program, the federal government published an informational pamphlet stating that "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." Adjusted for inflation, this equates to a maximum annual tax of $1,802 per person. In 2017, the maximum payroll tax per person is $15,773, or 8.7 times the promised maximum. This figure does not include other taxes that are now used to fund Social Security, such as the tax on Social Security benefits.

DocumentationSocial Security Promise

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