Social Security huge error: Two W2 filers cause $32bn error in wage tables

Zero Hedge

In what can easily be characterized as the most blatant error in its history (and soon, potentially, fraud), the Social Security Administration announced that as a result of several erroneous W2 filings by two people, amounting to a $32.3 billion “mistake” the entire statistical wage table released previously has been scrapped and a new one has been released, indicating that wages in the US, and especially for the top earners, dropped, instead of declining modestly, and in some cases increasing. Of course, the timing for the revelation on the day of the elections is a total coincidence.

Social Security is of course baffled and confused at this vexing error that somehow no one there caught before now, that two filers had combined incomes of $32 billion. Happily, they discovered it just in time for Election Day so we can know the elites are having a rough go of it too, so stop with all the populist rabble-rousing, already.

The comments at ZH are always fun.

Two erroneous tax filings are large enough to skew the entire US population’s average wage decline by over 50%? Nah. No ruling elite around this place. Just a rumor… a myth.

The whole system is a massive fraud. Ridiculous and disgusting. Hang the bastards.

I reported on my W2 that I had made $1 quadrillion, but I meant that in 2013 dollars. In todays dollars that is $10.

Isn’t is strange how we can transition in life from believing everything we are told to believing nothing we are told. Some never make the transition. Yet, we continue to support this system of government. Go figure…

I can see how they made this mistake. They just figured that these folks were in the banking industry, and enjoying some of those record bonuses paid out due to TARP saving their collective arses!

What a bunch of monkeys!

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  • Sue

    Swami Sue knows all and sees all.

    When you get a W2 from some payroll processors, it comes in four identical parts on one page. One part is for the 1040, one for the state tax return, one for city taxes if any, and one to keep. Sone people don’t bother to tear the page into its four parts — they just make a copy of the whole thing and staple it on the front page of their return. And when it’s processed at the IrS campus, it’s a machine reading the page and a stultified G5 worker bee feeding it through the optical reader. The bee doesn’t tear the form apart either. So the machine reads the same data four times for the same return. A lazy couple of multimillionaires + overwhelmed IRS insect with 100,000 returns to process = stinky data.

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