What Are Payroll Taxes? An Employee's Guide

Contributing sentiments towards policy:

57% : Your employer withholds a portion of each of your paychecks to cover payroll taxes, which support Social Security, Medicare and, in some cases, unemployment benefits.
56% :Social Security provides income for older retirees and younger Americans who are unable to work.
55% : While payroll taxes fund the specific programs we've talked about, income taxes go to the U.S. Treasury to support broad government spending.
51% : FICA payroll taxes take 6.2% of your wages for Social Security, while your employer kicks in an equal amount that does not come out of your pay.
43% : There are two types of unemployment taxes:Employers deduct both payroll taxes and income taxes from your paycheck each pay period, and there are key differences between the two.

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