Will Social Security Run Out Of Money?

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One of the first way to put the Social Security back on track is increasing the payroll tax. Currently, the worker pays 6.2%, and the employer pays 6.2% for 12.4% total payroll tax. Those who are selfemployed pay the full 12.4%. Increasing the payroll tax by 1.6% for both the employee and the employer could fully fund the Social Security system. For a customized report on your personal best Social Security claiming strategy click HERE.