Social Security tax

Frequency: 8.018.2 per million words

A tax on earnings that funds the Social Security program.

social securitysocial security + NOUN

Categories:

tax

Examples (10)

  • The current Social Security tax rate is 6.2% for workers.
  • Many employees are concerned about the amount of Social Security tax deducted from their paychecks.
  • The government is considering reforms to the Social Security tax system.
  • Historically, the Social Security tax rate has increased several times.
  • Understanding how the Social Security tax works is crucial for financial planning.
  • Businesses are responsible for withholding and remitting Social Security tax from employee wages.
  • A portion of your earnings goes towards the Social Security tax to fund retirement benefits.
  • Critics argue that the Social Security tax places a heavy burden on low-income earners.
  • They discussed the impact of a potential increase in the Social Security tax on the economy.
  • Filing your taxes correctly ensures you pay the appropriate Social Security tax.