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4.5% is withheld from your pay and the employer is required to match it.

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11y ago

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Related Questions

What are examples of payroll taxes?

Social Security Taxes, FICA, and medicare are payroll taxes.


What example of a payroll tax?

Social security tax


What is the primary source of revenue for social security?

I believe, its just a social security tax.


What are social security and medicare financed by?

Payroll taxes on employers and employees.


Do you have to pay into Social Security?

Yes, most working individuals in the United States are required to pay into Social Security through payroll taxes.


What payroll taxes are deducted directly from people paychecks?

Social security and medicare.


Is Social Security receiving additional funds?

Yes, Social Security is receiving additional funds through payroll taxes collected from workers and employers.


Does a payroll tax deduction apply to federal annuitants?

Check your annual OPM annuity statement -- there is no payroll tax. A payroll tax feeds the Ponzi scheme we commonly call Social Security. For the last few years the payroll tax was reduced by 2% but that just means Social Security will become broke even faster.


Which type of tax is used to finance the social security program in the US?

payroll tax


Why do we now pay more percentage into social security than before?

The percentage amount paid into social security has not changed at this time.


What year was it voted to pay medicare out of social security?

Medicare is not paid out of Social Security. The two are funded by different payroll taxes.


What percentage of income do employees pay in social security and Medicare taxes?

Social security: 6.2%