Here’s a clear explanation: How Social Security Works Social Security is funded primarily through payroll taxes. When you work, you and your employer each pay 6.2% of your wages into the system. That money goes immediately to pay current retirees and beneficiaries. Any surplus goes into the Social Security Trust Fund. What Does “Running Out”ContinueContinue reading “Theoretically, yes — Social Security could “run out” of money, but not in the way many people think.”
