Want Social Security to Last? Here’s How Much Your Taxes Could Rise
Currently, Social Security is taxed at a rate of 6.2% each for employers and employees, up to a maximum of $142,800 in wages for 2021. This makes the total Social Security tax rate 12.4%, so adding 3.54% would give us a new rate of 15.94%, or 7.97% each for employers and employees.
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