Projections by Demographic Group
Taxpayers Aged 31+ by Race & Ethnicity
Methodology »Released: March 2022
Next expected update: 2023
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 | ||
2022 | 17 | 64 | 11 | 7 |
2030 | 19 | 61 | 11 | 8 |
2050 | 25 | 54 | 11 | 10 |
2070 | 31 | 47 | 10 | 12 |
Race or ethnicity | Less than high school | High school | Associate | Bachelor's | Graduate |
---|---|---|---|---|---|
All | 10 | 29 | 22 | 19 | 20 |
Hispanic/Latino | 27 | 38 | 17 | 8 | 10 |
Black | 8 | 39 | 23 | 17 | 13 |
White | 4 | 26 | 24 | 22 | 23 |
All other races | 3 | 14 | 18 | 30 | 34 |
Race or ethnicity | Median uncapped, in 2021 dollars |
---|---|
All | 65,226 |
Hispanic/Latino | 52,472 |
Black | 54,430 |
White | 72,987 |
All other races | 85,954 |
Race or ethnicity | Median |
---|---|
All | 173 |
Hispanic/Latino | 156 |
Black | 164 |
White | 184 |
All other races | 173 |
Race or ethnicity | Median, in thousands of 2021 dollars |
---|---|
All | 189 |
Hispanic/Latino | 79 |
Black | 75 |
White | 303 |
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.