If you already work, you must be aware of social security taxes that come out of your check. SS tax, known as FICA tax is paid by employees and employers to cash social security and medicare programs. Since a lot of money goes toward this tax, you must be wanted to know where it actually goes.

the money from your tax goes into social security program.  exactly 85 cents of each dollar goes to SS. the money is used to pay families, retirees and surviving spouse and kids of workers who have died. excess payment are all assigned to a trust fund that would pay your future. the administration claims that for each dollar you pay, less than one cent goes toward administration cost.

Medicare

the other remainder of tax you pay is medicare, around 15cents of each dollar goes into medicare program. Resemble social security, the dollar paid by current wage earners is used to pay for few hospitals and medical care cost incurred by current medicare receivers, with the excess being accounted for into trusted funds.