Heritage - What No One Wants to Admit About Social Security Taxes

April 14, 2014

 

What No One Wants to Admit About Social Security Taxes

It’s a bummer when you see how much income tax comes out of your paycheck. But when you see that Social Security line item, do you think, “At least that’s going to pay for my retirement”?

It’s not.

The tax money you’re paying into Social Security today is going to fund today’s retirees. Who will pay for your benefits? The next generation of workers.

And the payout gets worse with each generation.

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