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Social Security and Medicare Taxes and Premiums: Fact Sheet (CRS Report for Congress)

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Release Date Revised Jan. 13, 2004
Report Number 94-28
Authors David S. Koitz, Education and Public Welfare Division
Source Agency Congressional Research Service
Older Revisions
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Summary:

Financing for social security -- Old Age, Survivors, and Disability Insurance -- and the Hospital Insurance part of Medicare is provided primarily by taxes levied on wages and net self-employment income. Financing for the Supplementary Medical Insurance portion of Medicare is provided by premiums from enrollees and payments from the government. This report describes these taxes and premiums.