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Social Security Tax
Mandatory contributions collected from employees and employers to fund the Social Security program, providing benefits for retirees, the disabled, and survivors.
Medicare Tax
A federal tax deducted from employees' paychecks to fund the Medicare program, which provides health insurance for individuals aged 65 and over.
Social Security Tax
A tax levied on both employers and employees to fund the Social Security program, which provides benefits for retirees, disabled persons, and survivors.
Medicare Tax
A federal tax deducted from an employee's paycheck to fund the Medicare program.
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