Social Security and Payroll Taxes
Thanks to falling birthrates and rising numbers of retirees in the U.S., the future of Social Security is uncertain. Over the years, Tax Foundation economists have published a range of studies exploring Social Security's financial problems and outlining possible reforms to help restore the system to long-term solvency. Currently, U.S. federal payroll taxes consist of a 12.4 percent Social Security tax, and a 2.9 percent Medicare tax.
Additional questions about Social Security and payroll taxes? Call (202) 464-6200.
Related Blog Entries
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- Podcast with Boston University Economist Laurence Kotlikoff, by Andrew Chamberlain, September 26, 2006
- Social Security Celebrates 70th Anniversary, by Curtis S. Dubay, August 15, 2005
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