Projections by Demographic Group
Taxpayers Aged 31+ by Race & EthnicityMethodology »
Released: March 2022
Next expected update: 2024
DEFINITION: Social Security taxpayers are workers paying Federal Insurance Contributions Act payroll taxes under current law.
In 2050, we project that:
- More taxpayers will identify as Hispanic/Latino or all other races a than in 2022.
- Taxpayers of all other races will have the highest rate of bachelor's and graduate degrees compared with the other groups.
- White workers will have the most median lifetime credits b with 184 (comparable to 46 years of work), while Hispanic workers will have the fewest with 156 (39 years of work).
- Household wealth for workers who are Hispanic ($79,127) and workers who are Black ($74,938) will be around four times lower than that of workers who are White ($303,064).
|Year||Hispanic or Latino, any race||Non-Hispanic|
|White||Black||All other races|
|Race or ethnicity||Less than high school||High school||Associate||Bachelor's||Graduate|
|All other races||3||14||18||30||34|
|Race or ethnicity||Median uncapped, in 2021 dollars|
|All other races||85,954|
|Race or ethnicity||Median|
|All other races||173|
|Race or ethnicity||Median, in thousands of 2021 dollars|
|All other races||272|
SOURCE: Modeling Income in the Near Term, Version 8 (MINT8) microsimulation model using 2019 Trustees Report intermediate assumptions.
NOTES: Content is simplified for presentation. Refer to the MINT8 Projection Methodology for model details or the Table User Guide for definitions of racial/ethnic identifications, education levels, household income, and poverty.
The Black, White, and all other races subgroups are non-Hispanic.
“Uncapped” earnings includes earnings above the maximum taxable amount.
a. Includes anyone identifying as a race or ethnicity other than Black, White, or Hispanic/Latino.
b. Includes credits that could be earned after 2050 by taxpayers projected to be alive in 2050.