78,896 views
2 votes
2 votes
Americans have to pay a social security tax on every paycheck. What is the rate?.

User Dan Tanner
by
2.8k points

1 Answer

10 votes
10 votes
6.2 percent
Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $147,000 (in 2022), while the self-employed pay 12.4 percent.
User Prl
by
2.8k points