Here’s How Much Social Security and Medicare Tax We Should Be Paying
Social Security and Medicare are not financially viable over the long run. In fact, we have fewer than two decades before both programs are out of money. However, the good news is that there's still time to fix the problem, and if Congress acts soon, the solution could be less painful on your wallet than you might think.
The payroll tax in the United States has two parts – one that covers Social Security and another that helps fund Medicare.
Image Source: Getty Images.
Source: Fool.com