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 10.4 percent Social Security tax, and a 2.9 percent Medicare tax.
Additional questions about Social Security and payroll taxes? Call (202) 464-6200.