A tax on wage earnings that's used to fund the Social Security system. In principle, the Social Security tax is divided equally between employer and employee--your share is listed under the FICA [..]

A portion of the FICA (Federal Insurance Contributions Act) tax that is 12.4% of an individual's net earned income. The employee's share of the Medicare tax is 6.2% of wages up to a certain [..]

Definition Federal tax levied equally on employers and employees, used to pay for Social Security programs.

Generally known as FICA taxes, after the Federal Insurance Contribution Act, these taxes are imposed on wages paid to employees to fund Social Security benefits for employees. Both the employer and th [..]

An example of a regressive tax.

a tax used to fund a program of the US government that gives money to elderly people. The elderly receive funds because the federal government has deducted money from each of their paychec [..]

A tax levied on employers and employees to finance public Social Security benefits.

A payroll tax that is part of FICA (Federal Insurance Contributions Act)

Social security is designed as safety net national insurance system to protect individuals from financial distress caused by unforeseen catastrophes. In the United States, the Social Security Program [..]

The tax that funds the Social Security system. It is paid by both employers and employees.

n. impuesto de Seguro Social